3,132 Shares in Public Storage (NYSE:PSA) Bought by Stevens Capital Management LP

Stevens Capital Management LP bought a new stake in shares of Public Storage (NYSE:PSA) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,132 shares of the real estate investment trust’s stock, valued at approximately $938,000.

Several other institutional investors have also recently added to or reduced their stakes in PSA. Quent Capital LLC boosted its holdings in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the period. Prospera Private Wealth LLC bought a new stake in Public Storage in the third quarter worth about $34,000. Synergy Asset Management LLC bought a new stake in Public Storage in the fourth quarter worth about $38,000. Millstone Evans Group LLC bought a new stake in Public Storage in the fourth quarter worth about $38,000. Finally, Toth Financial Advisory Corp raised its position in Public Storage by 48.2% in the fourth 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. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PSA has been the topic of several research reports. Barclays reiterated an “overweight” rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Scotiabank dropped their price target 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. Royal Bank of Canada cut 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. Truist Financial cut their price objective on Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Finally, Wells Fargo & Company cut their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $338.00.

Public Storage Price Performance

Shares of PSA opened at $291.19 on Friday. The company has a market capitalization of $51.08 billion, a price-to-earnings ratio of 30.24, a P/E/G ratio of 4.91 and a beta of 0.73. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. 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 business’s 50-day moving average is $299.96 and its 200-day moving average is $321.98.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.12%. Public Storage’s dividend payout ratio is 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.