Public Storage (NYSE:PSA) Shares Sold by Wambolt & Associates LLC

Wambolt & Associates LLC decreased its position in shares of Public Storage (NYSE:PSA) by 13.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,474 shares of the real estate investment trust’s stock after selling 690 shares during the period. Wambolt & Associates LLC’s holdings in Public Storage were worth $1,340,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Raymond James Trust N.A. lifted its holdings in shares of Public Storage by 11.2% in the third quarter. Raymond James Trust N.A. now owns 2,193 shares of the real estate investment trust’s stock valued at $798,000 after purchasing an additional 221 shares in the last quarter. Nwam LLC acquired a new stake in Public Storage in the third quarter valued at approximately $242,000. Great Valley Advisor Group Inc. boosted its position in Public Storage by 2.6% during the third quarter. Great Valley Advisor Group Inc. now owns 2,122 shares of the real estate investment trust’s stock worth $773,000 after purchasing an additional 53 shares during the period. Cerity Partners LLC grew its stake in Public Storage by 18.0% in the 3rd quarter. Cerity Partners LLC now owns 32,566 shares of the real estate investment trust’s stock valued at $11,850,000 after buying an additional 4,961 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Public Storage in the third quarter valued at about $381,000. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

PSA has been the topic of several analyst reports. Barclays reiterated an “overweight” rating and issued a $354.00 price objective (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Royal Bank of Canada dropped their price target on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Truist Financial reduced their target price on Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Scotiabank decreased their price objective on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, four 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 a consensus price target of $338.00.

Public Storage Stock Up 1.3 %

Shares of NYSE PSA opened at $295.07 on Tuesday. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market cap of $51.76 billion, a PE ratio of 30.64, a P/E/G ratio of 4.91 and a beta of 0.73. The company’s fifty day simple moving average is $300.07 and its 200 day simple moving average is $321.50.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.07%. Public Storage’s dividend payout ratio is presently 112.89%.

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.