Captrust Financial Advisors Sells 4,355 Shares of Public Storage (NYSE:PSA)

Captrust Financial Advisors cut its stake in shares of Public Storage (NYSE:PSA) by 31.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,493 shares of the real estate investment trust’s stock after selling 4,355 shares during the period. Captrust Financial Advisors’ holdings in Public Storage were worth $3,454,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of 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 shares of Public Storage during the third quarter worth $34,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage during the second quarter worth $36,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Storage during the third quarter worth $38,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Public Storage during the second quarter worth $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Jefferies Financial Group increased their price objective on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Evercore ISI decreased their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Morgan Stanley increased their price objective on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada decreased their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Barclays decreased their price objective on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Stock Performance

Shares of Public Storage stock opened at $334.42 on Thursday. 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 business has a 50-day moving average price of $341.32 and a two-hundred day moving average price of $320.35. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a market cap of $58.56 billion, a P/E ratio of 34.73, a PEG ratio of 5.72 and a beta of 0.71.

Public Storage Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.59%. Public Storage’s dividend payout ratio (DPR) 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.