Kentucky Retirement Systems Sells 945 Shares of Public Storage (NYSE:PSA)

Kentucky Retirement Systems lowered its holdings in Public Storage (NYSE:PSA) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,973 shares of the real estate investment trust’s stock after selling 945 shares during the period. Kentucky Retirement Systems’ holdings in Public Storage were worth $3,993,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new position in shares of Public Storage in the 2nd quarter worth about $32,000. Opal Wealth Advisors LLC bought a new stake in Public Storage in the second quarter worth about $36,000. Ashton Thomas Securities LLC purchased a new position in Public Storage in the third quarter valued at about $38,000. Crewe Advisors LLC bought a new position in shares of Public Storage during the 1st quarter valued at approximately $39,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Public Storage during the 2nd quarter worth approximately $39,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup upped their price objective on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Morgan Stanley increased their price target on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lowered their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Jefferies Financial Group increased their target price on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada lowered their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $339.64.

Public Storage Trading Up 1.0 %

Shares of PSA opened at $335.01 on Friday. Public Storage has a 1-year low of $251.49 and a 1-year high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm’s 50-day moving average price is $345.99 and its 200-day moving average price is $314.26. The firm has a market capitalization of $58.66 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 5.57 and a beta of 0.70.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.58%. Public Storage’s dividend payout ratio (DPR) is 124.61%.

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.