Lindbrook Capital LLC Buys 45 Shares of Public Storage (NYSE:PSA)

Lindbrook Capital LLC increased its stake in Public Storage (NYSE:PSA) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 917 shares of the real estate investment trust’s stock after acquiring an additional 45 shares during the quarter. Lindbrook Capital LLC’s holdings in Public Storage were worth $334,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its holdings in Public Storage by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust’s stock worth $319,270,000 after acquiring an additional 281,800 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Public Storage by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock worth $1,575,794,000 after purchasing an additional 219,391 shares in the last quarter. Vanguard Group Inc. lifted its stake in Public Storage by 1.0% in the first quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after buying an additional 217,487 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Public Storage by 116.7% during the 2nd quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock worth $111,077,000 after buying an additional 208,546 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its position in shares of Public Storage by 17.2% during the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock worth $343,573,000 after buying an additional 173,975 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a research report on Monday, August 5th. Jefferies Financial Group increased their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Scotiabank boosted their target price on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Wolfe Research raised Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Evercore ISI reduced their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. One investment 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $339.71.

Public Storage Price Performance

Shares of NYSE PSA opened at $339.42 on Friday. The company has a market capitalization of $59.44 billion, a PE ratio of 35.25, a PEG ratio of 4.58 and a beta of 0.70. 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 stock’s 50 day moving average price is $346.94 and its 200-day moving average price is $311.34. Public Storage has a twelve month low of $241.60 and a twelve month high of $369.99.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.54%. Public Storage’s dividend payout ratio is currently 124.61%.

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.