Hazlett Burt & Watson Inc. Has $84,000 Stake in Public Storage (NYSE:PSA)

Hazlett Burt & Watson Inc. boosted its stake in Public Storage (NYSE:PSA) by 2,710.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 281 shares of the real estate investment trust’s stock after acquiring an additional 271 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Public Storage were worth $84,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC boosted its position in shares of Public Storage by 39.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 27,000 shares of the real estate investment trust’s stock worth $8,085,000 after buying an additional 7,589 shares during the period. Physician Wealth Advisors Inc. acquired a new position in Public Storage during the 4th quarter worth approximately $125,000. Schroder Investment Management Group grew its stake in shares of Public Storage by 9.1% during the 4th quarter. Schroder Investment Management Group now owns 327,243 shares of the real estate investment trust’s stock worth $96,802,000 after acquiring an additional 27,184 shares in the last quarter. L & S Advisors Inc grew its stake in shares of Public Storage by 2.1% during the 4th quarter. L & S Advisors Inc now owns 11,359 shares of the real estate investment trust’s stock worth $3,401,000 after acquiring an additional 237 shares in the last quarter. Finally, DnB Asset Management AS raised its holdings in shares of Public Storage by 4.3% in the fourth quarter. DnB Asset Management AS now owns 28,942 shares of the real estate investment trust’s stock valued at $8,666,000 after purchasing an additional 1,186 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSA has been the subject of a number of recent research reports. Royal Bank of Canada reduced their price objective on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company dropped their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Truist Financial lowered their price objective on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Scotiabank decreased their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $338.73.

Public Storage Stock Up 1.7 %

Shares of NYSE PSA opened at $299.37 on Tuesday. 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 has a 52 week low of $256.31 and a 52 week high of $369.99. The stock has a market capitalization of $52.51 billion, a P/E ratio of 31.09, a PEG ratio of 4.91 and a beta of 0.73. The stock’s fifty day moving average is $299.97 and its 200 day moving average is $319.33.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a $3.00 dividend. The ex-dividend date was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.01%. Public Storage’s dividend payout ratio (DPR) is 112.89%.

Public Storage 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.