Public Storage (NYSE:PSA) Shares Acquired by Texas Yale Capital Corp.

Texas Yale Capital Corp. grew its position in Public Storage (NYSE:PSA) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,847 shares of the real estate investment trust’s stock after buying an additional 925 shares during the quarter. Texas Yale Capital Corp.’s holdings in Public Storage were worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of PSA. Walleye Capital LLC acquired a new stake in shares of Public Storage in the third quarter valued at $262,000. EP Wealth Advisors LLC grew its stake in shares of Public Storage by 11.8% in the third quarter. EP Wealth Advisors LLC now owns 3,071 shares of the real estate investment trust’s stock valued at $1,117,000 after buying an additional 324 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Public Storage by 22.1% in the third quarter. Orion Portfolio Solutions LLC now owns 8,448 shares of the real estate investment trust’s stock valued at $3,074,000 after buying an additional 1,528 shares in the last quarter. Continuum Advisory LLC grew its stake in shares of Public Storage by 7.6% in the third quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 39 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Public Storage by 2.9% in the third quarter. Barclays PLC now owns 465,653 shares of the real estate investment trust’s stock valued at $169,433,000 after buying an additional 13,065 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Up 6.0 %

Public Storage stock opened at $282.35 on Thursday. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. 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 company has a market capitalization of $49.53 billion, a P/E ratio of 29.32, a PEG ratio of 4.91 and a beta of 0.76. The stock has a 50-day simple moving average of $297.78 and a 200-day simple moving average of $315.04.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s payout ratio is currently 112.89%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Mizuho assumed coverage on Public Storage in a report on Wednesday. They issued a “neutral” rating and a $287.00 target price for the company. Scotiabank upgraded Public Storage from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the company from $333.00 to $305.00 in a report on Wednesday. Wells Fargo & Company decreased their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Royal Bank of Canada decreased their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Finally, Truist Financial decreased their target price on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $332.08.

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.