Sigma Planning Corp Makes New $238,000 Investment in Public Storage (NYSE:PSA)

Sigma Planning Corp purchased a new position in Public Storage (NYSE:PSA) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 654 shares of the real estate investment trust’s stock, valued at approximately $238,000.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Evercore ISI dropped their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Scotiabank increased their price target on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Barclays cut their price objective on Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, Truist Financial cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Stock Up 1.0 %

PSA stock opened at $335.01 on Friday. The firm has a market cap of $58.66 billion, a PE ratio of 34.79, a PEG ratio of 5.57 and a beta of 0.70. The company has a fifty day simple moving average of $345.99 and a 200 day simple moving average of $313.88. Public Storage has a 1 year low of $251.49 and a 1 year high of $369.99. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given 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 yield of 3.58%. Public Storage’s payout ratio 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.