RD Lewis Holdings Inc. Buys New Stake in Public Storage (NYSE:PSA)

RD Lewis Holdings Inc. bought a new stake in Public Storage (NYSE:PSA) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 3,267 shares of the real estate investment trust’s stock, valued at approximately $989,000.

Other large investors have also recently made changes to their positions in the company. Quent Capital LLC lifted its stake in shares of Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Public Storage in the 3rd quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in Public Storage in the 4th quarter worth $38,000. Toth Financial Advisory Corp increased its holdings in Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 66 shares in the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new stake in Public Storage in the 4th quarter worth $67,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Up 0.7 %

PSA opened at $300.37 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $52.69 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The business has a 50-day moving average of $299.89 and a two-hundred day moving average of $323.18. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is 112.89%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Truist Financial boosted their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Scotiabank dropped their target price on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. 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. Finally, Barclays reaffirmed an “overweight” rating and issued a $354.00 target price (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price of $339.69.

Public Storage Company 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.