Slagle Financial LLC Grows Stock Position in Public Storage (NYSE:PSA)

Slagle Financial LLC grew its holdings in Public Storage (NYSE:PSA - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,237 shares of the real estate investment trust's stock after purchasing an additional 1,240 shares during the period. Public Storage makes up about 1.6% of Slagle Financial LLC's holdings, making the stock its 19th biggest position. Slagle Financial LLC's holdings in Public Storage were worth $3,664,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Quent Capital LLC boosted its stake in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 50 shares during the period. Synergy Asset Management LLC purchased a new stake in shares of Public Storage in the fourth quarter worth about $38,000. Millstone Evans Group LLC bought a new position in shares of Public Storage in the fourth quarter valued at approximately $38,000. Toth Financial Advisory Corp grew its stake in Public Storage by 48.2% during the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock valued at $61,000 after acquiring an additional 66 shares in the last quarter. Finally, McIlrath & Eck LLC increased its holdings in Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust's stock worth $79,000 after acquiring an additional 43 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several brokerages have commented on PSA. Barclays reissued an "overweight" rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and lifted their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Scotiabank decreased their target price on Public Storage from $338.00 to $333.00 and set a "sector perform" rating on the stock in a research note on Wednesday, March 5th. Truist Financial lowered their price target on Public Storage from $316.00 to $310.00 and set a "hold" rating on the stock in a report on Tuesday, March 18th. Finally, Wells Fargo & Company cut their price objective on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $338.73.

Public Storage Price Performance

PSA traded up $5.00 during midday trading on Monday, hitting $299.37. The stock had a trading volume of 445,211 shares, compared to its average volume of 708,601. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The business has a fifty day moving average of $299.91 and a 200 day moving average of $319.75. The company has a market cap of $52.51 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a $3.00 dividend. The ex-dividend date was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.01%. Public Storage's dividend payout ratio (DPR) is 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.