Stifel Financial Corp Acquires 3,241 Shares of Public Storage (NYSE:PSA)

Stifel Financial Corp increased its holdings in Public Storage (NYSE:PSA) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 69,856 shares of the real estate investment trust’s stock after purchasing an additional 3,241 shares during the period. Stifel Financial Corp’s holdings in Public Storage were worth $25,422,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PSA. OFI Invest Asset Management purchased a new stake in shares of Public Storage during the 2nd quarter valued at about $32,000. Prospera Private Wealth LLC purchased a new stake in Public Storage in the third quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the third quarter worth approximately $38,000. EdgeRock Capital LLC bought a new stake in Public Storage in the 2nd quarter worth approximately $39,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in Public Storage during the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PSA. Evercore ISI cut 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. Citigroup boosted their price target on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Truist Financial increased their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday. Morgan Stanley boosted their target price on shares of 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, Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $342.07.

Public Storage Trading Up 0.4 %

Shares of Public Storage stock opened at $334.00 on Monday. Public Storage has a fifty-two week low of $256.31 and a fifty-two 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 company has a market capitalization of $58.49 billion, a P/E ratio of 34.68, a P/E/G ratio of 5.57 and a beta of 0.71. The company has a fifty day moving average of $340.38 and a 200 day moving average of $321.30.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Friday, December 13th. Public Storage’s dividend payout ratio (DPR) 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.