Colonial Trust Advisors Decreases Holdings in Public Storage (NYSE:PSA)

Colonial Trust Advisors reduced its position in Public Storage (NYSE:PSA) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 14,094 shares of the real estate investment trust’s stock after selling 170 shares during the period. Colonial Trust Advisors’ holdings in Public Storage were worth $4,220,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PSA. Norges Bank purchased a new stake in shares of Public Storage during the 4th quarter worth approximately $931,286,000. Amundi boosted its stake in shares of Public Storage by 54.0% during the 4th quarter. Amundi now owns 779,882 shares of the real estate investment trust’s stock worth $230,426,000 after acquiring an additional 273,486 shares in the last quarter. Aew Capital Management L P boosted its stake in shares of Public Storage by 108.6% during the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock worth $131,574,000 after acquiring an additional 228,740 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Public Storage during the 4th quarter worth approximately $66,253,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Public Storage by 25.5% during the 4th quarter. Russell Investments Group Ltd. now owns 999,426 shares of the real estate investment trust’s stock worth $299,006,000 after acquiring an additional 202,944 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Up 6.0 %

Public Storage stock opened at $282.35 on Thursday. The firm’s 50 day moving average price is $297.78 and its two-hundred day moving average price is $315.04. 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 $49.53 billion, a PE ratio of 29.32, a P/E/G ratio of 4.91 and a beta of 0.76. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a $3.00 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.25%. Public Storage’s payout ratio is presently 112.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company reduced their target price 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. 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 note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and upped their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada reduced their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Scotiabank raised Public Storage from a “sector perform” rating to a “sector outperform” rating and reduced their price target for the stock from $333.00 to $305.00 in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $332.08.

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.