Physician Wealth Advisors Inc. Buys Shares of 418 Public Storage (NYSE:PSA)

Physician Wealth Advisors Inc. purchased a new position in shares of Public Storage (NYSE:PSA) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 418 shares of the real estate investment trust’s stock, valued at approximately $125,000.

Other institutional investors have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Public Storage in the third quarter valued at approximately $378,000. Townsquare Capital LLC raised its holdings in Public Storage by 42.6% in the 3rd quarter. Townsquare Capital LLC now owns 3,981 shares of the real estate investment trust’s stock worth $1,449,000 after acquiring an additional 1,189 shares during the period. CreativeOne Wealth LLC acquired a new position in Public Storage during the 3rd quarter worth $248,000. Financial Counselors Inc. bought a new stake in Public Storage during the third quarter valued at about $950,000. Finally, Walleye Capital LLC acquired a new stake in shares of Public Storage in the third quarter valued at about $262,000. 78.79% of the stock is owned by institutional investors.

Public Storage Price Performance

Shares of Public Storage stock opened at $294.25 on Monday. The firm has a market cap of $51.62 billion, a P/E ratio of 30.56, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The firm’s 50-day simple moving average is $299.91 and its 200-day simple moving average is $319.75. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSA. Barclays reissued an “overweight” rating and set a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada cut their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Truist Financial decreased their price target on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Finally, Scotiabank cut their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $338.73.

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.