614 Shares in Public Storage (NYSE:PSA) Acquired by GW Henssler & Associates Ltd.

GW Henssler & Associates Ltd. acquired a new stake in Public Storage (NYSE:PSA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 614 shares of the real estate investment trust’s stock, valued at approximately $223,000.

A number of other institutional investors have also recently bought and sold shares of PSA. Integrated Advisors Network LLC grew its position in shares of Public Storage by 3.9% during the 3rd quarter. Integrated Advisors Network LLC now owns 3,026 shares of the real estate investment trust’s stock worth $1,101,000 after buying an additional 114 shares during the period. Pallas Capital Advisors LLC boosted its stake in Public Storage by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 1,404 shares of the real estate investment trust’s stock worth $475,000 after acquiring an additional 516 shares during the last quarter. Smithbridge Asset Management Inc. DE grew its holdings in Public Storage by 55.3% during the third quarter. Smithbridge Asset Management Inc. DE now owns 3,333 shares of the real estate investment trust’s stock valued at $1,213,000 after purchasing an additional 1,187 shares during the period. Baker Tilly Wealth Management LLC increased its stake in Public Storage by 24.0% in the third quarter. Baker Tilly Wealth Management LLC now owns 1,432 shares of the real estate investment trust’s stock valued at $521,000 after purchasing an additional 277 shares in the last quarter. Finally, Frank Rimerman Advisors LLC increased its stake in Public Storage by 4.2% in the third quarter. Frank Rimerman Advisors LLC now owns 2,494 shares of the real estate investment trust’s stock valued at $907,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

PSA has been the subject of several research analyst reports. Citigroup boosted their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada began coverage on Public Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 target price for the company. Wells Fargo & Company increased their price target on Public Storage from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Truist Financial cut Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $341.43.

Public Storage Stock Performance

Shares of PSA opened at $331.26 on Wednesday. The stock has a market capitalization of $57.98 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 4.74 and a beta of 0.68. Public Storage has a 12 month low of $233.18 and a 12 month high of $369.99. The firm has a fifty day simple moving average of $347.97 and a 200 day simple moving average of $308.07. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). The business had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.28 earnings per share. Research analysts forecast that Public Storage will post 16.73 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $3.00 per share. The ex-dividend date was Friday, September 13th. This represents a $12.00 annualized dividend and a yield of 3.62%. Public Storage’s dividend payout ratio (DPR) is presently 112.46%.

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.