PDS Planning Inc Purchases New Position in Public Storage (NYSE:PSA)

PDS Planning Inc acquired a new position in shares of Public Storage (NYSE:PSA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 705 shares of the real estate investment trust’s stock, valued at approximately $257,000.

Several other institutional investors have also modified their holdings of PSA. OFI Invest Asset Management acquired a new stake in shares of Public Storage in the 2nd quarter valued at about $32,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage in the second quarter valued at approximately $36,000. Crewe Advisors LLC acquired a new stake in shares of Public Storage in the first quarter valued at approximately $39,000. EdgeRock Capital LLC purchased a new position in shares of Public Storage during the second quarter worth approximately $39,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Public Storage in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Public Storage stock opened at $340.60 on Wednesday. The company has a market cap of $59.61 billion, a P/E ratio of 35.37, a price-to-earnings-growth ratio of 4.56 and a beta of 0.70. Public Storage has a one year low of $241.60 and a one year high of $369.99. The business has a fifty day moving average of $347.51 and a two-hundred day moving average of $310.54. 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 Dividend Announcement

The business also recently disclosed 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 3.52%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio is currently 124.61%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday. Wolfe Research raised Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Morgan Stanley boosted their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Barclays increased their price objective on Public Storage from $374.00 to $381.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Scotiabank boosted their target price on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.71.

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.