Ashton Thomas Private Wealth LLC Raises Stake in Public Storage (NYSE:PSA)

Ashton Thomas Private Wealth LLC grew its stake in shares of Public Storage (NYSE:PSA) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,971 shares of the real estate investment trust’s stock after purchasing an additional 60 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Public Storage were worth $2,173,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Petredis Investment Advisors LLC boosted its holdings in Public Storage by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock worth $2,497,000 after acquiring an additional 30 shares during the period. S.A. Mason LLC boosted its stake in shares of Public Storage by 3.8% during the 3rd quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 30 shares during the last quarter. Yoder Wealth Management Inc. boosted its stake in shares of Public Storage by 5.0% during the 3rd quarter. Yoder Wealth Management Inc. now owns 763 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 36 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Public Storage by 0.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock valued at $1,201,000 after buying an additional 39 shares during the last quarter. Finally, Rise Advisors LLC boosted its stake in shares of Public Storage by 3.4% during the 3rd quarter. Rise Advisors LLC now owns 1,275 shares of the real estate investment trust’s stock valued at $464,000 after buying an additional 42 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays reduced their target price on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research note on Tuesday. Evercore ISI dropped their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Wolfe Research raised Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Truist Financial lowered Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a report on Thursday, August 1st. Finally, Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $339.64.

Public Storage Stock Down 2.0 %

Shares of Public Storage stock opened at $330.24 on Wednesday. The stock has a 50-day moving average price of $346.80 and a 200 day moving average price of $312.59. The company has a market cap of $57.83 billion, a P/E ratio of 34.29, a P/E/G ratio of 4.75 and a beta of 0.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 1 year low of $241.60 and a 1 year high of $369.99.

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. This represents a $12.00 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio is currently 124.61%.

Public Storage 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.