Public Storage (NYSE:PSA) Shares Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. cut its stake in Public Storage (NYSE:PSA) by 6.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 783,987 shares of the real estate investment trust’s stock after selling 54,958 shares during the period. Public Storage accounts for about 2.9% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 16th largest position. Montrusco Bolton Investments Inc. owned about 0.45% of Public Storage worth $279,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PSA. OFI Invest Asset Management acquired a new stake in Public Storage in the 2nd quarter worth approximately $32,000. Prospera Private Wealth LLC purchased a new position in Public Storage during the 3rd quarter worth approximately $34,000. Opal Wealth Advisors LLC purchased a new position in Public Storage during the 2nd quarter worth approximately $36,000. Ashton Thomas Securities LLC purchased a new position in Public Storage during the 3rd quarter worth approximately $38,000. Finally, EdgeRock Capital LLC purchased a new position in Public Storage during the 2nd quarter worth approximately $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of NYSE PSA opened at $337.62 on Friday. The firm has a market cap of $59.12 billion, a PE ratio of 35.06, a PEG ratio of 5.59 and a beta of 0.70. The firm has a fifty day moving average of $343.82 and a 200 day moving average of $316.39. 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 has a one year low of $251.49 and a one year high of $369.99.

Public Storage Dividend Announcement

The firm 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 dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.55%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. 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 research report on Friday, August 30th. Wells Fargo & Company reduced their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley lifted their target price on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and an average price target of $339.64.

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.