358 Shares in Public Storage (NYSE:PSA) Acquired by Curio Wealth LLC

Curio Wealth LLC purchased a new position in Public Storage (NYSE:PSA) during the fourth quarter, HoldingsChannel reports. The fund purchased 358 shares of the real estate investment trust’s stock, valued at approximately $107,000.

A number of other large investors also recently added to or reduced their stakes in the business. Sigma Planning Corp purchased a new stake in shares of Public Storage in the third quarter worth about $238,000. Apollon Wealth Management LLC lifted its position in shares of Public Storage by 26.5% in the third quarter. Apollon Wealth Management LLC now owns 1,688 shares of the real estate investment trust’s stock worth $614,000 after buying an additional 354 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Public Storage in the third quarter worth about $512,000. Oppenheimer Asset Management Inc. lifted its position in shares of Public Storage by 31.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the real estate investment trust’s stock worth $2,678,000 after buying an additional 1,782 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Public Storage by 5.4% in the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 33 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Scotiabank decreased their target price on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. 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. Finally, Truist Financial increased their target price on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average price target of $339.69.

Public Storage Stock Performance

PSA stock opened at $298.29 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The business’s fifty day simple moving average is $299.80 and its two-hundred day simple moving average is $323.47. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The firm has a market cap of $52.33 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

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 given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is presently 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.