Public Storage (NYSE:PSA) Shares Sold by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC trimmed its holdings in shares of Public Storage (NYSE:PSA) by 52.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,123 shares of the real estate investment trust’s stock after selling 10,127 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Public Storage were worth $3,320,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Public Storage by 114.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock worth $33,302,000 after acquiring an additional 48,803 shares during the period. Cornerstone Advisors LLC grew its holdings in shares of Public Storage by 164.4% during the third quarter. Cornerstone Advisors LLC now owns 11,900 shares of the real estate investment trust’s stock valued at $4,330,000 after purchasing an additional 7,400 shares during the last quarter. Hilton Capital Management LLC raised its position in shares of Public Storage by 103.0% during the 3rd quarter. Hilton Capital Management LLC now owns 40,832 shares of the real estate investment trust’s stock worth $14,858,000 after purchasing an additional 20,720 shares during the period. Commerce Bank lifted its holdings in shares of Public Storage by 16.1% in the 3rd quarter. Commerce Bank now owns 62,401 shares of the real estate investment trust’s stock worth $22,706,000 after purchasing an additional 8,654 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Public Storage during the 3rd quarter valued at approximately $34,000. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on PSA. Royal Bank of Canada dropped their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Truist Financial cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective 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 company a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company dropped their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Scotiabank boosted their price objective on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. 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 Up 0.5 %

PSA opened at $337.62 on Friday. The stock’s fifty day moving average is $343.82 and its 200-day moving average is $316.39. Public Storage has a one year low of $251.49 and a one year high of $369.99. The company has a market capitalization of $59.12 billion, a PE ratio of 35.06, a P/E/G ratio of 5.59 and a beta of 0.70. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s payout ratio is 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.