Millstone Evans Group LLC Makes New $38,000 Investment in Public Storage (NYSE:PSA)

Millstone Evans Group LLC purchased a new position in shares of Public Storage (NYSE:PSA) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 126 shares of the real estate investment trust’s stock, valued at approximately $38,000.

Other large investors have also made changes to their positions in the company. Quent Capital LLC lifted its stake in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Synergy Asset Management LLC bought a new position in shares of Public Storage during the 4th quarter valued at $38,000. Toth Financial Advisory Corp raised its holdings in shares of Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 66 shares in the last quarter. Parkworth Wealth Management Inc. acquired a new stake in shares of Public Storage in the 4th quarter valued at $67,000. Finally, Compass Financial Services Inc bought a new stake in Public Storage in the fourth quarter worth $68,000. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PSA. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and raised their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Barclays restated an “overweight” rating and issued a $354.00 target price (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Scotiabank lowered their price target on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada reduced their price objective on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Finally, Truist Financial lowered their target price on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $338.00.

Public Storage Price Performance

Shares of Public Storage stock opened at $295.07 on Tuesday. Public Storage has a twelve month low of $256.31 and a twelve month 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 firm has a market cap of $51.76 billion, a P/E ratio of 30.64, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The firm’s 50-day simple moving average is $300.07 and its 200-day simple moving average is $321.50.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is 112.89%.

About Public Storage

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.