666 Shares in Public Storage (NYSE:PSA) Bought by Nwam LLC

Nwam LLC acquired a new stake in Public Storage (NYSE:PSA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 666 shares of the real estate investment trust’s stock, valued at approximately $242,000.

A number of other large investors also recently bought and sold shares of PSA. Charles Schwab Investment Management Inc. increased its stake in shares of Public Storage by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock worth $1,023,080,000 after acquiring an additional 54,992 shares during the period. APG Asset Management US Inc. raised its stake in shares of Public Storage by 4.8% during the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock worth $623,485,000 after buying an additional 100,000 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Public Storage by 8.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock valued at $343,968,000 after buying an additional 95,080 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Public Storage by 9.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 707,952 shares of the real estate investment trust’s stock valued at $203,642,000 after buying an additional 62,784 shares during the period. Finally, Lasalle Investment Management Securities LLC boosted its stake in shares of Public Storage by 3.4% in the first quarter. Lasalle Investment Management Securities LLC now owns 541,835 shares of the real estate investment trust’s stock valued at $157,165,000 after buying an additional 17,701 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PSA. Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a report on Thursday, August 1st. Barclays reduced their price objective on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Morgan Stanley upped their target price on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their price target on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada lowered their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.64.

Public Storage Trading Up 3.0 %

Shares of PSA stock opened at $347.86 on Tuesday. The company has a market capitalization of $60.91 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 5.61 and a beta of 0.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a 50-day moving average price of $343.52 and a 200 day moving average price of $317.53. Public Storage has a twelve month low of $252.96 and a twelve month high of $369.99.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio is presently 124.61%.

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.