Stiles Financial Services Inc Acquires 349 Shares of Public Storage (NYSE:PSA)

Stiles Financial Services Inc lifted its position in Public Storage (NYSE:PSA) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,218 shares of the real estate investment trust’s stock after acquiring an additional 349 shares during the period. Public Storage accounts for about 1.2% of Stiles Financial Services Inc’s investment portfolio, making the stock its 21st largest holding. Stiles Financial Services Inc’s holdings in Public Storage were worth $3,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSA. Centersquare Investment Management LLC boosted its stake in shares of Public Storage by 17.2% in the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock worth $343,573,000 after buying an additional 173,975 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Public Storage during the second quarter valued at about $14,301,000. Allspring Global Investments Holdings LLC raised its holdings in Public Storage by 1.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock valued at $51,762,000 after acquiring an additional 2,605 shares during the period. PGGM Investments raised its holdings in Public Storage by 8.0% during the second quarter. PGGM Investments now owns 167,431 shares of the real estate investment trust’s stock valued at $48,162,000 after acquiring an additional 12,396 shares during the period. Finally, Swedbank AB bought a new stake in Public Storage during the first quarter valued at about $17,465,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PSA. Evercore ISI decreased their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Barclays lifted their target price on Public Storage from $374.00 to $381.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a report on Monday, August 5th. 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 report on Tuesday. Finally, Royal Bank of Canada started coverage on Public Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $340.71.

Public Storage Stock Performance

Public Storage stock opened at $333.09 on Friday. The company has a 50 day moving average price of $347.20 and a 200-day moving average price of $310.65. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a fifty-two week low of $241.60 and a fifty-two week high of $369.99. The company has a market capitalization of $58.33 billion, a PE ratio of 34.59, a P/E/G ratio of 4.58 and a beta of 0.70.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Friday, December 13th. Public Storage’s payout ratio is presently 124.61%.

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.