XML Financial LLC Acquires 113 Shares of Public Storage (NYSE:PSA)

XML Financial LLC grew its holdings in Public Storage (NYSE:PSA) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,449 shares of the real estate investment trust’s stock after acquiring an additional 113 shares during the quarter. XML Financial LLC’s holdings in Public Storage were worth $3,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Canada Pension Plan Investment Board raised its holdings in shares of Public Storage by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust’s stock worth $319,270,000 after buying an additional 281,800 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Public Storage by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock worth $1,575,794,000 after acquiring an additional 219,391 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Public Storage by 1.0% during the first quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after acquiring an additional 217,487 shares during the period. AQR Capital Management LLC boosted its stake in shares of Public Storage by 116.7% in the 2nd quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock valued at $111,077,000 after purchasing an additional 208,546 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in shares of 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 worth $343,573,000 after purchasing an additional 173,975 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Up 1.9 %

Shares of NYSE:PSA opened at $339.42 on Friday. 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. Public Storage has a 1 year low of $241.60 and a 1 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’s 50 day simple moving average is $346.94 and its 200 day simple moving average is $311.34.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.54%. Public Storage’s dividend payout ratio is currently 124.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Evercore ISI reduced their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Jefferies Financial Group increased their price target on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Royal Bank of Canada reduced their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday. Finally, Barclays lifted their price target on Public Storage from $374.00 to $381.00 and gave the company an “overweight” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average price target 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.