Public Storage (NYSE:PSA) Shares Acquired by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. boosted its stake in Public Storage (NYSE:PSA) by 16.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,993 shares of the real estate investment trust’s stock after purchasing an additional 288 shares during the period. Coldstream Capital Management Inc.’s holdings in Public Storage were worth $718,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Public Storage during the second quarter worth $32,000. Prospera Private Wealth LLC acquired a new position in Public Storage in the 3rd quarter worth $34,000. Ashton Thomas Securities LLC purchased a new position in Public Storage in the 3rd quarter valued at about $38,000. EdgeRock Capital LLC acquired a new stake in shares of Public Storage during the second quarter valued at about $39,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of Public Storage during the third quarter worth about $50,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PSA. Wolfe Research raised Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Truist Financial increased their target price on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Jefferies Financial Group lifted their price target on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Barclays reduced their price objective on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Scotiabank boosted their target price 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. 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. Based on data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average price target of $342.07.

Public Storage Stock Down 0.1 %

NYSE:PSA opened at $317.62 on Friday. 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 50 day moving average of $337.34 and a 200-day moving average of $322.43. The firm has a market capitalization of $55.62 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 5.38 and a beta of 0.71. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.78%. The ex-dividend date is Friday, December 13th. Public Storage’s dividend 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.