GeoWealth Management LLC Acquires 1,403 Shares of Public Storage (NYSE:PSA)

GeoWealth Management LLC lifted its holdings in Public Storage (NYSE:PSA) by 24.4% in the 4th quarter, Holdings Channel reports. The firm owned 7,161 shares of the real estate investment trust’s stock after buying an additional 1,403 shares during the quarter. GeoWealth Management LLC’s holdings in Public Storage were worth $2,144,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Doliver Advisors LP increased its holdings in Public Storage by 2.6% during the 4th quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust’s stock valued at $433,000 after purchasing an additional 36 shares in the last quarter. Brooklyn Investment Group increased its stake in shares of Public Storage by 3.4% in the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock valued at $345,000 after buying an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management raised its holdings in shares of Public Storage by 1.7% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock valued at $681,000 after buying an additional 38 shares during the last quarter. Premier Path Wealth Partners LLC lifted its position in Public Storage by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust’s stock worth $366,000 after buying an additional 40 shares in the last quarter. Finally, Global X Japan Co. Ltd. grew its holdings in Public Storage by 13.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 40 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Scotiabank upgraded shares of Public Storage from a “sector perform” rating to a “sector outperform” rating and reduced their target price for the stock from $333.00 to $305.00 in a research report on Wednesday, April 9th. Royal Bank of Canada reduced their price objective on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Barclays reissued an “overweight” rating and issued a $354.00 target price (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Wells Fargo & Company cut their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $332.08.

Public Storage Price Performance

Public Storage stock opened at $295.75 on Friday. The firm has a market capitalization of $51.88 billion, a P/E ratio of 30.71, a PEG ratio of 4.91 and a beta of 0.76. The business has a 50-day moving average of $295.93 and a 200-day moving average of $311.89. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s payout ratio 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.