Nicola Wealth Management LTD. Has $3.11 Million Stock Holdings in Public Storage (NYSE:PSA)

Nicola Wealth Management LTD. boosted its position in shares of Public Storage (NYSE:PSA) by 17.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,550 shares of the real estate investment trust’s stock after buying an additional 1,300 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Public Storage were worth $3,111,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its holdings in Public Storage by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust’s stock worth $319,270,000 after purchasing an additional 281,800 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Public Storage by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock worth $1,575,794,000 after purchasing an additional 219,391 shares in the last quarter. Vanguard Group Inc. increased its holdings in Public Storage by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock worth $6,075,681,000 after purchasing an additional 217,487 shares in the last quarter. AQR Capital Management LLC increased its holdings in Public Storage by 116.7% during the 2nd quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock worth $111,077,000 after purchasing an additional 208,546 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in shares of Public Storage by 17.2% in the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock valued at $343,573,000 after acquiring an additional 173,975 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of NYSE PSA traded down $3.57 during midday trading on Thursday, reaching $331.37. The company’s stock had a trading volume of 98,178 shares, compared to its average volume of 715,061. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a fifty-two week low of $251.49 and a fifty-two week high of $369.99. The business’s 50 day moving average price is $346.40 and its two-hundred day moving average price is $313.25. The company has a market cap of $58.03 billion, a P/E ratio of 34.78, a P/E/G ratio of 4.66 and a beta of 0.70.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.62%. Public Storage’s payout ratio is 124.61%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PSA. 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. Morgan Stanley raised 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. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective for the company. in a report on Monday, August 5th. Truist Financial cut Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective for the company. in a report on Thursday, August 1st. Finally, Citigroup raised their price objective on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.64.

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.