Greenleaf Trust lifted its position in shares of Public Storage (NYSE:PSA – Free Report) by 12.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,032 shares of the real estate investment trust’s stock after buying an additional 221 shares during the period. Greenleaf Trust’s holdings in Public Storage were worth $608,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its stake in shares of Public Storage by 5.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 134,169 shares of the real estate investment trust’s stock worth $38,771,000 after acquiring an additional 6,765 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in shares of Public Storage by 6.3% during the 1st quarter. Personal CFO Solutions LLC now owns 761 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 45 shares during the last quarter. Valeo Financial Advisors LLC raised its position in Public Storage by 3.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,313 shares of the real estate investment trust’s stock worth $393,000 after purchasing an additional 41 shares during the period. Brown Advisory Inc. lifted its stake in Public Storage by 6.3% in the first quarter. Brown Advisory Inc. now owns 8,686 shares of the real estate investment trust’s stock worth $2,600,000 after purchasing an additional 512 shares during the last quarter. Finally, Highview Capital Management LLC DE boosted its position in Public Storage by 3.0% during the first quarter. Highview Capital Management LLC DE now owns 4,230 shares of the real estate investment trust’s stock valued at $1,266,000 after buying an additional 123 shares during the period. Institutional investors own 78.79% of the company’s stock.
Public Storage Stock Performance
Public Storage stock opened at $288.81 on Friday. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The stock’s 50 day simple moving average is $298.17 and its two-hundred day simple moving average is $296.87. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $50.67 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 4.18 and a beta of 0.86.
Public Storage Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Thursday, June 12th were given a dividend of $3.00 per share. The ex-dividend date was Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.15%. Public Storage’s dividend payout ratio (DPR) is currently 119.17%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Royal Bank Of Canada decreased their price objective on Public Storage from $329.00 to $328.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Bank of America raised their price target on Public Storage from $368.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Scotiabank boosted their price objective on Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a research report on Monday, May 12th. Barclays cut their target price on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Finally, BMO Capital Markets lowered shares of Public Storage from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $340.00 to $325.00 in a report on Friday, June 20th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $337.64.
Read Our Latest Analysis on Public Storage
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.
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