XML Financial LLC Purchases 113 Shares of Public Storage (NYSE:PSA)

XML Financial LLC lifted its position in shares of Public Storage (NYSE:PSA) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,449 shares of the real estate investment trust’s stock after buying an additional 113 shares during the quarter. XML Financial LLC’s holdings in Public Storage were worth $3,074,000 at the end of the most recent quarter.

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

Public Storage Stock Performance

Shares of PSA opened at $339.42 on Friday. Public Storage has a 52 week low of $241.60 and a 52 week high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50 day moving average price of $346.94 and a two-hundred day moving average price of $311.34. The firm has a market capitalization of $59.44 billion, a P/E ratio of 35.25, a P/E/G ratio of 4.58 and a beta of 0.70.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 3.54%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Scotiabank boosted their price target on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Truist Financial cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a research report on Thursday, August 1st. Evercore ISI lowered their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Morgan Stanley upped their target price on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $339.71.

Public Storage 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.