Kingsview Wealth Management LLC Invests $381,000 in Public Storage (NYSE:PSA)

Kingsview Wealth Management LLC purchased a new position in Public Storage (NYSE:PSA) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,046 shares of the real estate investment trust’s stock, valued at approximately $381,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PSA. OFI Invest Asset Management purchased a new stake in Public Storage during the second quarter valued at approximately $32,000. Prospera Private Wealth LLC purchased a new stake in Public Storage during the third quarter valued at approximately $34,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage during the second quarter valued at approximately $36,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage during the third quarter valued at approximately $38,000. Finally, EdgeRock Capital LLC purchased a new stake in Public Storage during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PSA. Truist Financial cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a research report on Thursday, August 1st. Citigroup raised their price target on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Jefferies Financial Group raised their price target on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Morgan Stanley raised their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Stock Up 0.4 %

NYSE:PSA opened at $351.36 on Friday. The firm has a market capitalization of $61.53 billion, a P/E ratio of 36.49, a PEG ratio of 5.78 and a beta of 0.70. Public Storage has a 1-year low of $253.98 and a 1-year high of $369.99. The company’s fifty day moving average price is $343.04 and its 200-day moving average price is $318.52. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.42%. Public Storage’s dividend payout ratio is presently 124.61%.

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.