Claro Advisors LLC Makes New $227,000 Investment in Public Storage (NYSE:PSA)

Claro Advisors LLC acquired a new stake in Public Storage (NYSE:PSA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 624 shares of the real estate investment trust’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Public Storage by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after acquiring an additional 219,391 shares during the period. APG Asset Management US Inc. lifted its stake in Public Storage by 4.8% in the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock valued at $623,485,000 after purchasing an additional 100,000 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Public Storage by 8.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock worth $343,968,000 after purchasing an additional 95,080 shares during the period. Daiwa Securities Group Inc. increased its position in Public Storage by 9.7% during the second quarter. Daiwa Securities Group Inc. now owns 707,952 shares of the real estate investment trust’s stock worth $203,642,000 after buying an additional 62,784 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC raised its stake in Public Storage by 3.4% in the first quarter. Lasalle Investment Management Securities LLC now owns 541,835 shares of the real estate investment trust’s stock valued at $157,165,000 after buying an additional 17,701 shares during the period. 78.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PSA. Citigroup lifted their target price on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Morgan Stanley upped their price objective on shares of 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 shares of 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. Evercore ISI decreased their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Finally, Scotiabank raised their price objective on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $339.64.

Public Storage Stock Down 0.8 %

Shares of PSA opened at $334.50 on Wednesday. The firm has a 50 day simple moving average of $345.22 and a two-hundred day simple moving average of $315.64. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a one year low of $251.49 and a one year high of $369.99. The company has a market cap of $58.57 billion, a P/E ratio of 34.74, a P/E/G ratio of 5.57 and a beta of 0.70.

Public Storage Dividend Announcement

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 given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.59%. Public Storage’s dividend payout ratio is currently 124.61%.

About Public Storage

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.