NEOS Investment Management LLC Has $1.82 Million Stake in Public Storage (NYSE:PSA)

NEOS Investment Management LLC lifted its holdings in Public Storage (NYSE:PSA) by 25.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,074 shares of the real estate investment trust’s stock after acquiring an additional 1,238 shares during the quarter. NEOS Investment Management LLC’s holdings in Public Storage were worth $1,819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Doliver Advisors LP boosted its stake in Public Storage by 2.6% in the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust’s stock worth $433,000 after purchasing an additional 36 shares in the last quarter. Brooklyn Investment Group lifted its position in Public Storage by 3.4% during the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock worth $345,000 after buying an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management grew its holdings in Public Storage by 1.7% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock worth $681,000 after acquiring an additional 38 shares during the last quarter. Continuum Advisory LLC increased its position in Public Storage by 7.6% in the 3rd quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust’s stock valued at $182,000 after acquiring an additional 39 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its stake in shares of Public Storage by 2.4% in the third quarter. TD Private Client Wealth LLC now owns 1,695 shares of the real estate investment trust’s stock worth $617,000 after acquiring an additional 39 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Up 0.8 %

Shares of NYSE:PSA opened at $294.25 on Friday. The company has a 50 day moving average price of $299.91 and a two-hundred day moving average price of $320.30. 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 company has a market capitalization of $51.62 billion, a PE ratio of 30.56, a PEG ratio of 4.91 and a beta of 0.73. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s payout ratio is presently 112.89%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PSA. Wells Fargo & Company decreased their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Barclays reissued an “overweight” rating and issued a $354.00 target price (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and upped their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada lowered their price objective on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Finally, Scotiabank cut their target price on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $338.73.

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.