Savvy Advisors Inc. purchased a new position in shares of Public Storage (NYSE:PSA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,396 shares of the real estate investment trust's stock, valued at approximately $418,000.
A number of other institutional investors also recently made changes to their positions in the stock. Doliver Advisors LP raised its holdings in Public Storage by 2.6% during the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust's stock worth $433,000 after purchasing an additional 36 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of Public Storage by 3.4% in the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock worth $345,000 after buying an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its holdings in shares of Public Storage by 1.7% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock valued at $681,000 after buying an additional 38 shares during the period. Premier Path Wealth Partners LLC grew its holdings in Public Storage by 3.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock worth $366,000 after acquiring an additional 40 shares during the period. Finally, Global X Japan Co. Ltd. raised its position in Public Storage by 13.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock worth $100,000 after acquiring an additional 40 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
PSA has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Barclays reaffirmed an "overweight" rating and set a $354.00 target price (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Royal Bank of Canada cut their price objective on Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Mizuho started coverage on shares of Public Storage in a research report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and upped their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Public Storage currently has a consensus rating of "Moderate Buy" and an average price target of $332.08.
View Our Latest Research Report on PSA
Public Storage Stock Up 2.3 %
Shares of PSA traded up $6.72 during midday trading on Friday, reaching $295.75. 741,372 shares of the stock were exchanged, compared to its average volume of 735,931. The company has a market cap of $51.88 billion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 4.91 and a beta of 0.76. The firm has a 50 day simple moving average of $295.93 and a 200-day simple moving average of $311.30. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.
Public Storage Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date was Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.06%. Public Storage's dividend payout ratio (DPR) is 112.89%.
About Public Storage
(
Free Report)
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.
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