Geller Advisors LLC Purchases New Stake in Public Storage (NYSE:PSA)

Geller Advisors LLC acquired a new stake in shares of Public Storage (NYSE:PSA) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 594 shares of the real estate investment trust’s stock, valued at approximately $216,000.

Several other institutional investors have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its holdings in Public Storage by 1.8% during the third quarter. Public Employees Retirement System of Ohio now owns 322,385 shares of the real estate investment trust’s stock valued at $117,306,000 after purchasing an additional 5,613 shares during the last quarter. SGL Investment Advisors Inc. purchased a new stake in Public Storage during the third quarter valued at about $4,710,000. Cape Cod Five Cents Savings Bank lifted its holdings in Public Storage by 3.3% during the third quarter. Cape Cod Five Cents Savings Bank now owns 12,344 shares of the real estate investment trust’s stock valued at $4,492,000 after purchasing an additional 396 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Public Storage by 0.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 244,871 shares of the real estate investment trust’s stock valued at $89,101,000 after purchasing an additional 1,321 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Public Storage by 22.1% in the third quarter. Orion Portfolio Solutions LLC now owns 8,448 shares of the real estate investment trust’s stock worth $3,074,000 after buying an additional 1,528 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PSA shares. Citigroup increased their price target on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Truist Financial increased their price target 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. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Morgan Stanley increased their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Scotiabank upped their price objective on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. One investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $342.07.

Public Storage Stock Up 0.5 %

Shares of NYSE PSA opened at $335.67 on Tuesday. 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 firm’s 50 day simple moving average is $339.82 and its two-hundred day simple moving average is $321.73. The stock has a market capitalization of $58.78 billion, a P/E ratio of 34.86, a PEG ratio of 5.56 and a beta of 0.71.

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 paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Friday, December 13th. Public Storage’s payout ratio is 124.61%.

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.