Brooklyn Investment Group Has $405,000 Position in Public Storage (NYSE:PSA)

Brooklyn Investment Group increased its position in Public Storage (NYSE:PSA) by 5.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,114 shares of the real estate investment trust’s stock after buying an additional 61 shares during the quarter. Brooklyn Investment Group’s holdings in Public Storage were worth $405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new stake in Public Storage during the 2nd quarter valued at approximately $14,301,000. Allspring Global Investments Holdings LLC increased its position in Public Storage by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock valued at $51,762,000 after purchasing an additional 2,605 shares during the period. PGGM Investments increased its position in Public Storage by 8.0% during the 2nd quarter. PGGM Investments now owns 167,431 shares of the real estate investment trust’s stock valued at $48,162,000 after purchasing an additional 12,396 shares during the period. Swedbank AB acquired a new stake in Public Storage during the 1st quarter valued at approximately $17,465,000. Finally, Massmutual Trust Co. FSB ADV increased its position in Public Storage by 15.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 20,566 shares of the real estate investment trust’s stock valued at $5,916,000 after purchasing an additional 2,770 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PSA shares. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Wells Fargo & Company reduced their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Barclays reduced their price objective on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Scotiabank raised their price objective on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Finally, Evercore ISI reduced their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $339.64.

Public Storage Trading Up 0.6 %

NYSE PSA opened at $350.04 on Wednesday. The stock has a market capitalization of $61.30 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 5.78 and a beta of 0.70. Public Storage has a one year low of $252.96 and a one year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The business’s fifty day moving average is $343.37 and its 200-day moving average is $318.06.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.43%. 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.