Capital Performance Advisors LLP Makes New $127,000 Investment in Public Storage (NYSE:PSA)

Capital Performance Advisors LLP purchased a new stake in shares of Public Storage (NYSE:PSA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 348 shares of the real estate investment trust’s stock, valued at approximately $127,000.

A number of other institutional investors have also recently made changes to their positions in PSA. Centersquare Investment Management LLC lifted its position in Public Storage by 17.2% in the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock valued at $343,573,000 after acquiring an additional 173,975 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Public Storage during the second quarter valued at $14,301,000. Allspring Global Investments Holdings LLC increased its holdings in Public Storage by 1.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock worth $51,762,000 after buying an additional 2,605 shares in the last quarter. PGGM Investments raised its position in Public Storage by 8.0% in the 2nd quarter. PGGM Investments now owns 167,431 shares of the real estate investment trust’s stock worth $48,162,000 after buying an additional 12,396 shares during the last quarter. Finally, Swedbank AB bought a new position in Public Storage during the 1st quarter valued at about $17,465,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 1.9 %

Shares of Public Storage stock opened at $339.42 on Friday. Public Storage has a fifty-two week low of $241.60 and a fifty-two week 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. The company has a market capitalization of $59.44 billion, a P/E ratio of 35.25, a P/E/G ratio of 4.58 and a beta of 0.70. The company has a fifty day moving average of $346.94 and a 200 day moving average of $311.34.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors 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 yield of 3.54%. Public Storage’s dividend payout ratio is presently 124.61%.

Analyst Ratings Changes

PSA has been the subject of several research reports. Barclays boosted their price objective on shares of Public Storage from $374.00 to $381.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Morgan Stanley boosted their target price on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Evercore ISI dropped their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Scotiabank upped their price objective on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Finally, Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.71.

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.