31,933 Shares in Public Storage (NYSE:PSA) Bought by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC bought a new position in Public Storage (NYSE:PSA) during the 4th quarter, Holdings Channel reports. The fund bought 31,933 shares of the real estate investment trust’s stock, valued at approximately $9,562,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSA. Quent Capital LLC grew its position in shares of 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 purchasing an additional 50 shares during the last quarter. Synergy Asset Management LLC bought a new stake in Public Storage during the 4th quarter valued at approximately $38,000. Millstone Evans Group LLC acquired a new stake in Public Storage in the 4th quarter valued at approximately $38,000. Toth Financial Advisory Corp increased its position in Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 66 shares during the period. Finally, McIlrath & Eck LLC boosted its position in shares of Public Storage by 24.6% in the third quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PSA shares. Royal Bank of Canada dropped their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Truist Financial cut their price objective on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Scotiabank decreased their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company cut their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $338.00.

Public Storage Stock Performance

NYSE:PSA opened at $292.21 on Friday. The stock has a market capitalization of $51.26 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The firm has a 50 day moving average of $299.95 and a 200-day moving average of $320.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

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.