1,406 Shares in Public Storage (NYSE:PSA) Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new position in Public Storage (NYSE:PSA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,406 shares of the real estate investment trust’s stock, valued at approximately $512,000.

Several other large investors also recently added to or reduced their stakes in the company. Harbour Investments Inc. increased its holdings in Public Storage by 34.0% in the 3rd quarter. Harbour Investments Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $966,000 after acquiring an additional 674 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in Public Storage by 26.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,688 shares of the real estate investment trust’s stock worth $614,000 after acquiring an additional 354 shares during the last quarter. Laffer Tengler Investments Inc. boosted its stake in Public Storage by 3.4% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 1,867 shares of the real estate investment trust’s stock worth $679,000 after purchasing an additional 61 shares during the period. Catalytic Wealth RIA LLC boosted its stake in Public Storage by 4.0% in the 3rd quarter. Catalytic Wealth RIA LLC now owns 23,775 shares of the real estate investment trust’s stock worth $8,651,000 after purchasing an additional 905 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in Public Storage in the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the subject of several analyst reports. Evercore ISI cut their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Jefferies Financial Group raised their target price on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Barclays cut their target price on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Morgan Stanley raised their target price on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Citigroup raised their target price on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.64.

Public Storage Stock Performance

NYSE:PSA opened at $334.50 on Wednesday. The business has a 50 day moving average of $345.22 and a 200 day moving average of $315.64. The company has a market capitalization of $58.57 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 5.57 and a beta of 0.70. Public Storage has a 1-year low of $251.49 and a 1-year high of $369.99. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.59%. Public Storage’s payout ratio is 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.