Seven Post Investment Office LP Has $10.48 Million Stock Position in Public Storage (NYSE:PSA)

Seven Post Investment Office LP boosted its holdings in shares of Public Storage (NYSE:PSA) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,792 shares of the real estate investment trust’s stock after buying an additional 238 shares during the quarter. Public Storage makes up approximately 1.6% of Seven Post Investment Office LP’s investment portfolio, making the stock its 14th largest position. Seven Post Investment Office LP’s holdings in Public Storage were worth $10,476,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Public Storage during the 2nd quarter worth approximately $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage in the second quarter valued at $36,000. Crewe Advisors LLC bought a new position in shares of Public Storage in the first quarter valued at about $39,000. EdgeRock Capital LLC acquired a new stake in shares of Public Storage during the 2nd quarter worth about $39,000. Finally, LRI Investments LLC acquired a new stake in shares of Public Storage during the 1st quarter worth about $40,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PSA shares. Barclays increased their target price on Public Storage from $374.00 to $381.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Jefferies Financial Group increased their price objective on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research report on Monday, August 5th. Royal Bank of Canada initiated coverage on shares of Public Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 price target on the stock. Finally, Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.71.

Public Storage Stock Performance

Shares of NYSE:PSA opened at $333.09 on Friday. Public Storage has a 1 year low of $241.60 and a 1 year high of $369.99. The stock has a market capitalization of $58.30 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 4.69 and a beta of 0.70. 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 company’s 50 day simple moving average is $347.20 and its 200 day simple moving average is $310.65.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.60%. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

About Public Storage

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.