Plato Investment Management Ltd Boosts Stock Holdings in Public Storage (NYSE:PSA)

Plato Investment Management Ltd lifted its position in shares of Public Storage (NYSE:PSA) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,037 shares of the real estate investment trust’s stock after buying an additional 44 shares during the period. Plato Investment Management Ltd’s holdings in Public Storage were worth $2,194,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Public Storage during the second quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage during the 2nd quarter worth $36,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage in the 3rd quarter valued at $38,000. Crewe Advisors LLC purchased a new position in Public Storage in the first quarter valued at about $39,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Public Storage during the second quarter worth about $39,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a report on Thursday, August 1st. Jefferies Financial Group boosted their target price 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. Royal Bank of Canada lowered their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Morgan Stanley boosted their price objective on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and an average price target of $339.64.

Public Storage Stock Up 1.4 %

NYSE:PSA opened at $334.94 on Thursday. The firm has a market capitalization of $58.65 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 4.66 and a beta of 0.70. Public Storage has a 52 week low of $250.51 and a 52 week high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a 50 day moving average of $346.58 and a 200-day moving average of $313.10.

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 paid a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.58%. 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.