Heitman Real Estate Securities LLC Has $42.64 Million Stock Position in Public Storage (NYSE:PSA)

Heitman Real Estate Securities LLC lifted its holdings in Public Storage (NYSE:PSA) by 12.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,194 shares of the real estate investment trust’s stock after purchasing an additional 12,994 shares during the period. Public Storage accounts for about 2.3% of Heitman Real Estate Securities LLC’s investment portfolio, making the stock its 18th biggest holding. Heitman Real Estate Securities LLC owned approximately 0.07% of Public Storage worth $42,643,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of Public Storage during the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage during the third quarter worth approximately $38,000. OFI Invest Asset Management acquired a new position in Public Storage during the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC bought a new position in shares of Public Storage in the second quarter valued at approximately $36,000. Finally, EdgeRock Capital LLC bought a new position in shares of Public Storage in the second quarter valued at approximately $39,000. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PSA shares. Scotiabank raised their target price on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Morgan Stanley lifted their price objective on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note 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 research report on Monday, August 5th. Barclays cut 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. Finally, Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. One equities research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $339.64.

Public Storage Stock Performance

NYSE PSA opened at $343.99 on Tuesday. The firm’s fifty day moving average price is $342.76 and its two-hundred day moving average price is $319.51. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The firm has a market capitalization of $60.24 billion, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 5.79 and a beta of 0.71. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s 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.