4,030 Shares in Public Storage (NYSE:PSA) Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB purchased a new position in Public Storage (NYSE:PSA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,030 shares of the real estate investment trust's stock, valued at approximately $1,466,000.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Public Storage in the second quarter worth about $32,000. Prospera Private Wealth LLC bought a new stake in Public Storage during the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage during the 3rd quarter worth approximately $38,000. EdgeRock Capital LLC bought a new position in shares of Public Storage in the second quarter worth about $39,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in Public Storage during the third quarter valued at $50,000. Institutional investors own 78.79% of the company's stock.

Public Storage Trading Down 0.1 %

Shares of PSA traded down $0.17 during trading on Friday, reaching $317.62. 566,822 shares of the company traded hands, compared to its average volume of 638,182. The stock has a 50-day simple moving average of $337.34 and a 200-day simple moving average of $322.80. The stock has a market cap of $55.62 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 5.29 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 quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.78%. The ex-dividend date is Friday, December 13th. Public Storage's payout ratio is 124.61%.

Analyst Ratings Changes

Several brokerages recently commented on PSA. Wolfe Research upgraded shares of Public Storage to a "strong-buy" rating in a report on Wednesday, September 4th. Wells Fargo & Company reduced their target price on Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Citigroup boosted their target price on shares of Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Truist Financial lifted their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. Finally, Barclays lowered their price objective on shares of Public Storage from $381.00 to $380.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $342.07.

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.