Public Storage (NYSE:PSA) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance lifted its position in Public Storage (NYSE:PSA) by 5.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,322 shares of the real estate investment trust’s stock after acquiring an additional 64 shares during the period. Independent Advisor Alliance’s holdings in Public Storage were worth $396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Public Storage by 30.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust’s stock valued at $40,926,000 after acquiring an additional 31,662 shares during the period. United Community Bank increased its position in shares of Public Storage by 12.7% in the 4th quarter. United Community Bank now owns 3,810 shares of the real estate investment trust’s stock valued at $1,141,000 after acquiring an additional 430 shares during the period. Personal CFO Solutions LLC acquired a new position in shares of Public Storage in the 4th quarter valued at $215,000. Amundi grew its position in Public Storage by 54.0% during the 4th quarter. Amundi now owns 779,882 shares of the real estate investment trust’s stock worth $230,426,000 after purchasing an additional 273,486 shares during the period. Finally, Naviter Wealth LLC grew its position in Public Storage by 12.5% during the 4th quarter. Naviter Wealth LLC now owns 11,267 shares of the real estate investment trust’s stock worth $3,374,000 after purchasing an additional 1,253 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSA has been the topic of several analyst reports. Truist Financial increased their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Barclays reaffirmed an “overweight” rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Wells Fargo & Company cut their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada cut their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Finally, Scotiabank lowered their target price on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $339.69.

Public Storage Trading Up 0.7 %

Shares of Public Storage stock opened at $300.37 on Tuesday. The firm has a market capitalization of $52.69 billion, a PE ratio of 31.19, a P/E/G ratio of 4.91 and a beta of 0.73. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The firm’s 50-day moving average price is $299.89 and its 200 day moving average price is $323.18.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.00%. Public Storage’s payout ratio is 112.89%.

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.