Avantax Advisory Services Inc. Decreases Stock Holdings in Public Storage (NYSE:PSA)

Avantax Advisory Services Inc. trimmed its holdings in Public Storage (NYSE:PSA - Free Report) by 12.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,967 shares of the real estate investment trust's stock after selling 1,415 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Public Storage were worth $2,985,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC increased its holdings in shares of Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after buying an additional 50 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Public Storage during the third quarter worth $34,000. Synergy Asset Management LLC acquired a new stake in Public Storage during the fourth quarter worth $38,000. Toth Financial Advisory Corp raised its position in Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock valued at $61,000 after purchasing an additional 66 shares during the period. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of Public Storage in the 4th quarter valued at $67,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

PSA has been the topic of several research analyst reports. Royal Bank of Canada reduced their price objective on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and boosted their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial lowered their price objective on shares of Public Storage from $316.00 to $310.00 and set a "hold" rating for the company in a research report on Tuesday. Wells Fargo & Company dropped their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Finally, Barclays restated an "overweight" rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $337.38.

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Public Storage Stock Down 1.0 %

PSA traded down $2.93 on Wednesday, hitting $295.57. 798,634 shares of the company were exchanged, compared to its average volume of 718,022. The firm has a 50-day moving average price of $299.89 and a two-hundred day moving average price of $322.86. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a market cap of $51.85 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Thursday, March 13th. Public Storage's dividend payout ratio is presently 112.89%.

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.