Wilmington Savings Fund Society FSB Acquires Shares of 4,030 Public Storage (NYSE:PSA)

Wilmington Savings Fund Society FSB bought a new position in Public Storage (NYSE:PSA) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,030 shares of the real estate investment trust’s stock, valued at approximately $1,466,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in Public Storage during the second quarter worth about $32,000. Prospera Private Wealth LLC purchased a new position in shares of Public Storage in the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage in the third quarter valued at approximately $38,000. EdgeRock Capital LLC purchased a new stake in shares of Public Storage during the second quarter valued at approximately $39,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in Public Storage during the third quarter worth $50,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Public Storage stock opened at $317.62 on Friday. The firm has a market capitalization of $55.62 billion, a P/E ratio of 32.98, a PEG ratio of 5.38 and a beta of 0.71. Public Storage has a one year low of $256.31 and a one year 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 has a fifty day moving average price of $337.34 and a 200-day moving average price of $322.80.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.78%. Public Storage’s dividend payout ratio is currently 124.61%.

Wall Street Analyst Weigh In

PSA has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Scotiabank increased their price target on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Truist Financial raised their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Citigroup boosted their target price on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Evercore ISI decreased their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $342.07.

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.