Public Storage (NYSE:PSA) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. grew its holdings in shares of Public Storage (NYSE:PSA) by 2.8% during the third quarter, Holdings Channel.com reports. The firm owned 9,173 shares of the real estate investment trust’s stock after buying an additional 252 shares during the quarter. D.A. Davidson & CO.’s holdings in Public Storage were worth $3,338,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PSA. B. Riley Wealth Advisors Inc. increased its holdings in shares of Public Storage by 19.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,639 shares of the real estate investment trust’s stock valued at $765,000 after purchasing an additional 421 shares during the period. LRI Investments LLC acquired a new position in shares of Public Storage during the first quarter valued at $42,000. Swedbank AB acquired a new position in shares of Public Storage during the first quarter valued at $17,465,000. Atria Investments Inc increased its holdings in shares of Public Storage by 1.1% during the first quarter. Atria Investments Inc now owns 5,732 shares of the real estate investment trust’s stock valued at $1,663,000 after purchasing an additional 61 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of Public Storage by 154.8% during the first quarter. Cetera Investment Advisers now owns 57,598 shares of the real estate investment trust’s stock valued at $16,707,000 after purchasing an additional 34,992 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Up 0.4 %

Shares of NYSE PSA opened at $351.36 on Friday. The business has a 50 day simple moving average of $343.04 and a 200 day simple moving average of $318.52. Public Storage has a 52 week low of $253.98 and a 52 week high of $369.99. The stock has a market cap of $61.53 billion, a price-to-earnings ratio of 36.49, a PEG ratio of 5.78 and a beta of 0.70. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Dividend Announcement

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 paid a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.42%. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PSA shares. Royal Bank of Canada lowered their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Wolfe Research raised Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Bank of America lowered Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target for the company. in a research report on Monday, August 5th. Jefferies Financial Group increased their price target on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Evercore ISI decreased their price target on 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $339.64.

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.