Dearborn Partners LLC Purchases 125 Shares of Public Storage (NYSE:PSA)

Dearborn Partners LLC grew its holdings in Public Storage (NYSE:PSA) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,543 shares of the real estate investment trust’s stock after purchasing an additional 125 shares during the quarter. Dearborn Partners LLC’s holdings in Public Storage were worth $925,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PSA. Ashton Thomas Securities LLC acquired a new position in Public Storage during the 3rd quarter valued at $38,000. OFI Invest Asset Management bought a new stake in shares of Public Storage in the second quarter valued at about $32,000. Opal Wealth Advisors LLC acquired a new stake in Public Storage during the second quarter worth about $36,000. Crewe Advisors LLC acquired a new stake in Public Storage during the first quarter worth about $39,000. Finally, EdgeRock Capital LLC bought a new position in Public Storage during the second quarter valued at about $39,000. 78.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on PSA shares. Barclays reduced their price objective on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research report on Tuesday. Jefferies Financial Group lifted their price target on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Morgan Stanley increased their price objective on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Evercore ISI decreased their target price 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. Finally, Scotiabank increased their price target 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Price Performance

Shares of PSA stock opened at $335.01 on Friday. Public Storage has a 52 week low of $251.49 and a 52 week high of $369.99. The stock has a market capitalization of $58.66 billion, a PE ratio of 34.79, a PEG ratio of 5.57 and a beta of 0.70. 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 stock’s fifty day moving average is $346.21 and its 200-day moving average is $313.38.

Public Storage Dividend Announcement

The business also recently disclosed 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. This represents a $12.00 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio is currently 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.