Blake Schutter Theil Wealth Advisors LLC Buys Shares of 609 Public Storage (NYSE:PSA)

Blake Schutter Theil Wealth Advisors LLC bought a new stake in Public Storage (NYSE:PSA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 609 shares of the real estate investment trust’s stock, valued at approximately $222,000.

Several other institutional investors have also modified their holdings of PSA. OFI Invest Asset Management acquired a new position in shares of Public Storage in the second quarter worth $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage in the second quarter worth $36,000. Crewe Advisors LLC acquired a new position in shares of Public Storage in the first quarter worth $39,000. EdgeRock Capital LLC acquired a new position in shares of Public Storage in the second quarter worth $39,000. Finally, LRI Investments LLC acquired a new position in shares of Public Storage in the first quarter worth $40,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of PSA opened at $333.09 on Friday. Public Storage has a 1-year low of $241.60 and a 1-year high of $369.99. The stock has a market cap of $58.30 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 4.69 and a beta of 0.70. 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 firm has a fifty day moving average price of $347.20 and a 200 day moving average price of $310.65.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.60%. Public Storage’s payout ratio is 124.61%.

Analysts Set New Price Targets

PSA has been the subject of several research reports. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research note on Monday, August 5th. Jefferies Financial Group boosted their target price on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Evercore ISI lowered their target price 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. Finally, Truist Financial downgraded 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 note on Thursday, August 1st. One equities research 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 stock. According to data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $340.71.

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.