SGL Investment Advisors Inc. Invests $4.71 Million in Public Storage (NYSE:PSA)

SGL Investment Advisors Inc. purchased a new stake in Public Storage (NYSE:PSA - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,195 shares of the real estate investment trust's stock, valued at approximately $4,710,000. Public Storage comprises about 2.4% of SGL Investment Advisors Inc.'s investment portfolio, making the stock its 13th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in PSA. Simplicity Wealth LLC raised its position in Public Storage by 7.2% in the second quarter. Simplicity Wealth LLC now owns 1,313 shares of the real estate investment trust's stock valued at $378,000 after purchasing an additional 88 shares during the period. Dynamic Advisor Solutions LLC increased its position in shares of Public Storage by 13.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 4,251 shares of the real estate investment trust's stock valued at $1,223,000 after acquiring an additional 494 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Public Storage by 22.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,932 shares of the real estate investment trust's stock valued at $1,706,000 after acquiring an additional 1,083 shares during the period. Diversified Trust Co increased its holdings in Public Storage by 22.5% in the 2nd quarter. Diversified Trust Co now owns 850 shares of the real estate investment trust's stock valued at $245,000 after purchasing an additional 156 shares during the last quarter. Finally, Andina Capital Management LLC raised its position in Public Storage by 9.1% in the second quarter. Andina Capital Management LLC now owns 791 shares of the real estate investment trust's stock valued at $228,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of PSA stock traded up $1.44 during trading hours on Monday, hitting $335.44. The stock had a trading volume of 188,488 shares, compared to its average volume of 711,166. The stock's 50 day moving average is $340.38 and its 200 day moving average is $321.30. The firm has a market capitalization of $58.74 billion, a PE ratio of 34.68, a PEG ratio of 5.56 and a beta of 0.71. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.58%. Public Storage's dividend payout ratio is presently 124.61%.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of research reports. Barclays dropped their price objective on Public Storage from $381.00 to $380.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their price objective on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Truist Financial increased their target price on shares of Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a report on Thursday. Royal Bank of Canada dropped their price target on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research note on Friday, November 8th. Finally, Evercore ISI reduced their price objective on Public Storage from $343.00 to $338.00 and set an "in-line" rating on the stock in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage has an average rating of "Moderate Buy" and a consensus price target of $342.07.

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.