Stifel Financial Corp Purchases 3,241 Shares of Public Storage (NYSE:PSA)

Stifel Financial Corp raised its stake in shares of Public Storage (NYSE:PSA - Free Report) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,856 shares of the real estate investment trust's stock after buying an additional 3,241 shares during the period. Stifel Financial Corp's holdings in Public Storage were worth $25,422,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Simplicity Wealth LLC grew its position in shares of 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 last quarter. Dynamic Advisor Solutions LLC grew its position in shares of Public Storage by 13.1% in 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 purchasing an additional 494 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Public Storage by 22.3% during the second quarter. Sequoia Financial Advisors LLC now owns 5,932 shares of the real estate investment trust's stock worth $1,706,000 after buying an additional 1,083 shares in the last quarter. Diversified Trust Co increased its stake in Public Storage by 22.5% during the second quarter. Diversified Trust Co now owns 850 shares of the real estate investment trust's stock valued at $245,000 after acquiring an additional 156 shares during the period. Finally, Andina Capital Management LLC increased its stake in Public Storage by 9.1% during the second quarter. Andina Capital Management LLC now owns 791 shares of the real estate investment trust's stock valued at $228,000 after acquiring an additional 66 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Up 0.5 %

NYSE:PSA traded up $1.57 during trading hours on Monday, hitting $335.57. 560,779 shares of the stock were exchanged, compared to its average volume of 712,818. The company's 50 day moving average is $340.38 and its two-hundred day moving average is $321.30. Public Storage has a twelve month low of $256.31 and a twelve 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. The company has a market capitalization of $58.76 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 5.56 and a beta of 0.71.

Public Storage Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PSA shares. Wolfe Research upgraded Public Storage to a "strong-buy" rating in a research note on Wednesday, September 4th. Citigroup boosted their price target on Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Barclays lowered their price objective on Public Storage from $381.00 to $380.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 12th. Royal Bank of Canada lowered their price objective on Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Finally, Morgan Stanley upped their price objective on Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently 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.