Public Storage (NYSE:PSA) Stock Holdings Lifted by Whitener Capital Management Inc.

Whitener Capital Management Inc. lifted its holdings in Public Storage (NYSE:PSA) by 11.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,436 shares of the real estate investment trust’s stock after purchasing an additional 147 shares during the period. Whitener Capital Management Inc.’s holdings in Public Storage were worth $523,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of Public Storage in the 2nd quarter worth about $32,000. Opal Wealth Advisors LLC bought a new stake in Public Storage in the 2nd quarter valued at about $36,000. Crewe Advisors LLC bought a new stake in Public Storage in the 1st quarter valued at about $39,000. EdgeRock Capital LLC bought a new stake in Public Storage in the 2nd quarter valued at about $39,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in Public Storage in the 3rd quarter valued at about $50,000. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Scotiabank lifted their price objective 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. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective on the stock. in a research report on Monday, August 5th. Barclays lifted their price objective on shares of Public Storage from $374.00 to $381.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Citigroup lifted their price objective on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price of $341.43.

Public Storage Stock Performance

Shares of PSA opened at $323.66 on Friday. The firm’s 50 day moving average is $347.69 and its 200-day moving average is $309.14. The stock has a market capitalization of $56.65 billion, a P/E ratio of 33.61, a P/E/G ratio of 4.64 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 0.93. Public Storage has a 12-month low of $241.60 and a 12-month high of $369.99.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.71%. Public Storage’s dividend payout ratio is currently 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.