CWA Asset Management Group LLC Increases Stock Position in Public Storage (NYSE:PSA)

CWA Asset Management Group LLC raised its holdings in Public Storage (NYSE:PSAFree Report) by 0.3% during the 4th quarter, Holdings Channel reports. The firm owned 51,319 shares of the real estate investment trust’s stock after purchasing an additional 144 shares during the quarter. Public Storage comprises 1.1% of CWA Asset Management Group LLC’s investment portfolio, making the stock its 23rd biggest holding. CWA Asset Management Group LLC’s holdings in Public Storage were worth $15,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its stake in shares of Public Storage by 3.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 35 shares during the period. Gryphon Financial Partners LLC lifted its stake in shares of Public Storage by 2.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock valued at $476,000 after buying an additional 38 shares during the period. Wealth Alliance lifted its stake in shares of Public Storage by 5.3% during the third quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after buying an additional 43 shares during the period. RB Capital Management LLC lifted its stake in shares of Public Storage by 1.1% during the third quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock valued at $1,048,000 after buying an additional 43 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Public Storage by 107.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PSA shares. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $280.00 to $310.00 in a research report on Friday, April 5th. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target for the company in a research report on Thursday, March 28th. BMO Capital Markets increased their price objective on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Barclays decreased their target price on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating for the company in a research note on Monday, May 20th. Finally, Scotiabank increased their price objective on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $304.75.

Read Our Latest Analysis on PSA

Public Storage Stock Performance

Shares of PSA stock traded up $6.55 during trading hours on Tuesday, reaching $280.94. The stock had a trading volume of 189,299 shares, compared to its average volume of 705,186. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.54. Public Storage has a twelve month low of $233.18 and a twelve month high of $312.25. The firm has a 50-day simple moving average of $273.80 and a 200-day simple moving average of $280.25. The firm has a market capitalization of $49.37 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 3.82 and a beta of 0.63.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 12th will be issued a $3.00 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.27%. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

Insider Buying and Selling at Public Storage

In related news, Director Kristy Pipes bought 2,149 shares of the stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of $278.96 per share, with a total value of $599,485.04. Following the purchase, the director now owns 2,149 shares in the company, valued at $599,485.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.10% of the stock is owned by corporate insiders.

About Public Storage

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSAFree Report).

Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.