Larson Financial Group LLC Acquires 1,783 Shares of Public Storage (NYSE:PSA)

Larson Financial Group LLC raised its holdings in Public Storage (NYSE:PSA) by 3,714.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,831 shares of the real estate investment trust’s stock after acquiring an additional 1,783 shares during the quarter. Larson Financial Group LLC’s holdings in Public Storage were worth $666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSA. SVB Wealth LLC raised its stake in shares of Public Storage by 17.8% during the first quarter. SVB Wealth LLC now owns 946 shares of the real estate investment trust’s stock valued at $274,000 after acquiring an additional 143 shares in the last quarter. Caxton Associates LP raised its position in Public Storage by 89.5% during the 1st quarter. Caxton Associates LP now owns 2,181 shares of the real estate investment trust’s stock valued at $633,000 after purchasing an additional 1,030 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Public Storage in the 1st quarter worth $770,000. B. Riley Wealth Advisors Inc. grew its position in shares of Public Storage by 19.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,639 shares of the real estate investment trust’s stock worth $765,000 after buying an additional 421 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Public Storage by 1.6% in the first quarter. California State Teachers Retirement System now owns 262,785 shares of the real estate investment trust’s stock valued at $76,223,000 after acquiring an additional 4,078 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PSA shares. Morgan Stanley upped their price objective on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company dropped their price objective 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. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective for the company. in a research note on Thursday, August 1st. Bank of America cut 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. Finally, Citigroup upped their price objective on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.64.

Public Storage Stock Performance

PSA opened at $347.86 on Tuesday. The company has a market cap of $60.91 billion, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 5.61 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 firm’s 50-day moving average price is $343.52 and its 200-day moving average price is $317.53. Public Storage has a 52-week low of $252.96 and a 52-week high of $369.99.

Public Storage Dividend Announcement

The business 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. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.45%. 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.