Public Storage (NYSE:PSA) Shares Bought by Umpqua Bank

Umpqua Bank lifted its stake in shares of Public Storage (NYSE:PSA) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,083 shares of the real estate investment trust’s stock after buying an additional 214 shares during the period. Umpqua Bank’s holdings in Public Storage were worth $1,474,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PSA. Quent Capital LLC lifted its stake in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares during the period. Prospera Private Wealth LLC acquired a new position in Public Storage during the third quarter valued at $34,000. Synergy Asset Management LLC acquired a new position in Public Storage during the fourth quarter valued at $38,000. Millstone Evans Group LLC acquired a new position in Public Storage during the fourth quarter valued at $38,000. Finally, Toth Financial Advisory Corp lifted its position in Public Storage by 48.2% during the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 66 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Performance

PSA opened at $291.19 on Friday. The firm has a market capitalization of $51.08 billion, a PE ratio of 30.24, a PEG ratio of 4.91 and a beta of 0.73. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The firm’s 50-day moving average price is $299.96 and its 200 day moving average price is $322.12. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 4.12%. Public Storage’s payout ratio is 112.89%.

Analyst Ratings Changes

PSA has been the subject of a number of research reports. Barclays restated an “overweight” rating and set a $354.00 target price (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Truist Financial cut their price objective on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Wells Fargo & Company cut their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Scotiabank cut their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and a consensus target price of $338.00.

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.