Steward Partners Investment Advisory LLC Grows Stock Holdings in Public Storage (NYSE:PSA)

Steward Partners Investment Advisory LLC boosted its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 23.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,895 shares of the real estate investment trust's stock after purchasing an additional 939 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Public Storage were worth $1,466,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Public Storage by 732.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust's stock valued at $561,763,000 after buying an additional 1,358,493 shares in the last quarter. Adelante Capital Management LLC raised its position in Public Storage by 389.9% during the third quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust's stock worth $532,465,000 after acquiring an additional 1,164,630 shares during the period. FMR LLC lifted its holdings in Public Storage by 20.9% during the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust's stock valued at $1,828,763,000 after purchasing an additional 869,066 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Public Storage by 57.3% in the third quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust's stock valued at $405,278,000 after purchasing an additional 405,847 shares during the period. Finally, Aew Capital Management L P increased its stake in shares of Public Storage by 108.6% during the fourth quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust's stock worth $131,574,000 after purchasing an additional 228,740 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

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Public Storage Trading Down 0.1 %

Public Storage stock traded down $0.39 during midday trading on Monday, hitting $313.59. 1,060,416 shares of the stock were exchanged, compared to its average volume of 715,820. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $55.01 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 4.91 and a beta of 0.73. The stock's 50-day simple moving average is $299.31 and its 200 day simple moving average is $324.74. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 3.83%. Public Storage's payout ratio is 112.89%.

Analysts Set New Price Targets

PSA has been the topic of a number of research reports. Barclays decreased their price target on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company decreased their target price 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. Truist Financial boosted their price target on Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Scotiabank decreased their price objective on Public Storage from $338.00 to $333.00 and set a "sector perform" rating on the stock in a report on Wednesday, March 5th. Finally, Royal Bank of Canada dropped their target price on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $340.23.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the sale, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.00% of the stock is owned by insiders.

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.