Great Valley Advisor Group Inc. Buys 53 Shares of Public Storage (NYSE:PSA)

Great Valley Advisor Group Inc. increased its stake in Public Storage (NYSE:PSA) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,122 shares of the real estate investment trust’s stock after purchasing an additional 53 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Public Storage were worth $773,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new stake in shares of Public Storage during the 2nd quarter worth $14,301,000. Allspring Global Investments Holdings LLC lifted its position in Public Storage by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock worth $51,762,000 after acquiring an additional 2,605 shares during the last quarter. PGGM Investments boosted its holdings in Public Storage by 8.0% during the second quarter. PGGM Investments now owns 167,431 shares of the real estate investment trust’s stock valued at $48,162,000 after acquiring an additional 12,396 shares during the period. Swedbank AB acquired a new stake in shares of Public Storage in the first quarter valued at about $17,465,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Public Storage by 15.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 20,566 shares of the real estate investment trust’s stock worth $5,916,000 after purchasing an additional 2,770 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Public Storage stock opened at $347.86 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $60.91 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 5.61 and a beta of 0.70. Public Storage has a one year low of $252.96 and a one year high of $369.99. The business has a 50 day simple moving average of $343.52 and a 200 day simple moving average of $317.53.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $3.00 per share. 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 3.45%. Public Storage’s payout ratio is presently 124.61%.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of research analyst reports. Jefferies Financial Group raised their target price on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Morgan Stanley boosted their target price on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target for the company. in a report on Thursday, August 1st. Wells Fargo & Company dropped their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays reduced their target price on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, six have assigned 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.com, Public Storage currently has an average rating of “Moderate Buy” and an average price target 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.