1,187 Shares in Public Storage (NYSE:PSA) Acquired by Sovereign Investment Advisors LLC

Sovereign Investment Advisors LLC bought a new position in Public Storage (NYSE:PSA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,187 shares of the real estate investment trust's stock, valued at approximately $355,000.

Other large investors also recently modified their holdings of the company. Quent Capital LLC grew its stake in shares of Public Storage by 135.1% in the fourth 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 last quarter. Prospera Private Wealth LLC bought a new stake in shares of Public Storage in the third quarter worth about $34,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage in the fourth quarter worth about $38,000. Toth Financial Advisory Corp grew its stake in shares of 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 worth $61,000 after purchasing an additional 66 shares during the last quarter. Finally, McIlrath & Eck LLC boosted its position 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 valued at $79,000 after acquiring an additional 43 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PSA shares. 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 research report on Wednesday, February 26th. Barclays reaffirmed an "overweight" rating and set a $354.00 price objective (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Wells Fargo & Company cut their price objective on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Scotiabank cut their price objective on Public Storage from $338.00 to $333.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 5th. Finally, Truist Financial cut their price objective on Public Storage from $316.00 to $310.00 and set a "hold" rating on the stock in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $338.00.

Remove Ads

Public Storage Stock Up 0.2 %

NYSE PSA traded up $0.50 during mid-day trading on Thursday, reaching $296.12. The stock had a trading volume of 692,821 shares, compared to its average volume of 675,643. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The stock has a market cap of $51.94 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The company has a fifty day moving average price of $299.90 and a 200 day moving average price of $322.67. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.05%. Public Storage's payout ratio is currently 112.89%.

Public Storage Company Profile

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.