Transamerica Financial Advisors Inc. Sells 116 Shares of Public Storage (NYSE:PSA)

Transamerica Financial Advisors Inc. cut its stake in Public Storage (NYSE:PSA) by 12.5% in the 3rd quarter, Holdings Channel reports. The firm owned 813 shares of the real estate investment trust’s stock after selling 116 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Public Storage were worth $296,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PSA. OFI Invest Asset Management bought a new stake in Public Storage during the 2nd quarter valued at about $32,000. Prospera Private Wealth LLC bought a new stake in Public Storage during the 3rd quarter valued at about $34,000. Opal Wealth Advisors LLC bought a new stake in Public Storage during the 2nd quarter valued at about $36,000. Ashton Thomas Securities LLC bought a new stake in Public Storage during the 3rd quarter valued at about $38,000. Finally, EdgeRock Capital LLC bought a new stake in Public Storage during the 2nd quarter valued at about $39,000. 78.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PSA. Citigroup raised their price objective on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Barclays dropped their price target on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a report on Thursday, August 1st. Finally, Morgan Stanley raised their price target on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $339.64.

Public Storage Stock Up 0.6 %

NYSE:PSA opened at $350.04 on Wednesday. Public Storage has a 1-year low of $252.96 and a 1-year high of $369.99. The company has a 50-day moving average of $343.37 and a 200 day moving average of $318.06. The firm has a market cap of $61.30 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 5.78 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.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.43%. Public Storage’s dividend 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.