KCM Investment Advisors LLC Has $1.70 Million Position in Public Storage (NYSE:PSA)

KCM Investment Advisors LLC trimmed its position in shares of Public Storage (NYSE:PSA) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,665 shares of the real estate investment trust’s stock after selling 39 shares during the period. KCM Investment Advisors LLC’s holdings in Public Storage were worth $1,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Petredis Investment Advisors LLC boosted its stake in shares of Public Storage by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock worth $2,497,000 after acquiring an additional 30 shares in the last quarter. S.A. Mason LLC raised its position in shares of Public Storage by 3.8% in the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 30 shares during the period. Haverford Trust Co boosted its holdings in shares of Public Storage by 0.7% during the 3rd quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock worth $1,558,000 after buying an additional 30 shares during the period. Huntington National Bank grew its stake in Public Storage by 5.4% in the 3rd quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 33 shares during the last quarter. Finally, Yoder Wealth Management Inc. lifted its position in Public Storage by 5.0% during the 3rd quarter. Yoder Wealth Management Inc. now owns 763 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 36 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSA has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Jefferies Financial Group increased their price target on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Evercore ISI decreased their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Truist Financial cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a research note on Thursday, August 1st. Finally, Scotiabank boosted their price target on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $339.64.

Public Storage Stock Performance

PSA opened at $335.01 on Friday. The business’s 50-day simple moving average is $345.99 and its 200 day simple moving average is $313.88. Public Storage has a 52-week low of $251.49 and a 52-week high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $58.66 billion, a PE ratio of 34.79, a PEG ratio of 5.57 and a beta of 0.70.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s payout ratio is presently 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.