Public Storage (NYSE:PSA) Holdings Trimmed by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its holdings in Public Storage (NYSE:PSA) by 18.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,513 shares of the real estate investment trust’s stock after selling 1,953 shares during the quarter. Wealthfront Advisers LLC’s holdings in Public Storage were worth $2,549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSA. Quent Capital LLC lifted its holdings in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Public Storage during the 3rd quarter worth about $34,000. Synergy Asset Management LLC acquired a new stake in Public Storage during the 4th quarter worth about $38,000. Toth Financial Advisory Corp boosted its position in Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 66 shares during the period. Finally, McIlrath & Eck LLC boosted its position in Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 43 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Up 1.8 %

Shares of PSA stock opened at $298.29 on Friday. The stock’s 50 day simple moving average is $299.80 and its 200 day simple moving average is $323.72. 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 has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a market capitalization of $52.33 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

Analyst Ratings Changes

A number of brokerages have commented on PSA. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Scotiabank reduced their price target on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Truist Financial lifted their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Barclays reiterated an “overweight” rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a report on Wednesday. Finally, Royal Bank of Canada reduced their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.69.

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.