1,132 Shares in Public Storage (NYSE:PSA) Purchased by 17 Capital Partners LLC

17 Capital Partners LLC purchased a new stake in Public Storage (NYSE:PSA) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 1,132 shares of the real estate investment trust’s stock, valued at approximately $412,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. XML Financial LLC lifted its stake in Public Storage by 1.4% during the 3rd quarter. XML Financial LLC now owns 8,449 shares of the real estate investment trust’s stock valued at $3,074,000 after acquiring an additional 113 shares in the last quarter. Tompkins Financial Corp lifted its position in shares of Public Storage by 2.6% during the third quarter. Tompkins Financial Corp now owns 24,533 shares of the real estate investment trust’s stock valued at $8,927,000 after purchasing an additional 618 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Public Storage by 5.2% during the third quarter. Lindbrook Capital LLC now owns 917 shares of the real estate investment trust’s stock worth $334,000 after purchasing an additional 45 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Public Storage in the 3rd quarter worth about $18,862,000. Finally, Equitable Trust Co. grew its position in Public Storage by 3.1% in the 3rd quarter. Equitable Trust Co. now owns 77,959 shares of the real estate investment trust’s stock worth $28,367,000 after purchasing an additional 2,344 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

PSA has been the topic of a number of research analyst reports. Scotiabank boosted their target price on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Truist Financial cut Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective on the stock. in a research report on Thursday, August 1st. Wells Fargo & Company decreased their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley boosted their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group increased their price target on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.71.

Public Storage Price Performance

PSA opened at $339.42 on Friday. The firm has a 50-day moving average price of $346.94 and a 200-day moving average price of $311.34. Public Storage has a twelve month low of $241.60 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. The company has a market capitalization of $59.44 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 4.58 and a beta of 0.70.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.54%. Public Storage’s dividend payout ratio is 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.