Public Storage (NYSE:PSA) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC decreased its stake in shares of Public Storage (NYSE:PSA) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,440 shares of the real estate investment trust’s stock after selling 54 shares during the period. Frank Rimerman Advisors LLC’s holdings in Public Storage were worth $731,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Quent Capital LLC increased its stake in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 50 shares during the period. Prospera Private Wealth LLC acquired a new position in Public Storage during the 3rd quarter valued at about $34,000. Synergy Asset Management LLC acquired a new position in Public Storage during the 4th quarter valued at about $38,000. Toth Financial Advisory Corp increased its stake in Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 66 shares during the period. Finally, McIlrath & Eck LLC grew its stake in shares of Public Storage by 24.6% in the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

PSA stock opened at $298.29 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $52.33 billion, a P/E ratio of 30.98, a P/E/G ratio of 4.91 and a beta of 0.73. The firm has a 50 day simple moving average of $299.80 and a 200 day simple moving average of $323.59. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PSA. Scotiabank lowered their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Barclays reaffirmed an “overweight” rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research note on Wednesday. Royal Bank of Canada lowered their price objective on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Truist Financial lifted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $339.69.

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.