Signature Estate & Investment Advisors LLC Purchases New Holdings in Public Storage (NYSE:PSA)

Signature Estate & Investment Advisors LLC purchased a new stake in Public Storage (NYSE:PSA) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 639 shares of the real estate investment trust’s stock, valued at approximately $233,000.

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

Public Storage Price Performance

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

Public Storage Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective on the stock. in a report on Thursday, August 1st. Citigroup boosted their price target on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Scotiabank increased their price objective on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Morgan Stanley lifted their price objective on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI lowered 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 report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and a consensus target price of $339.64.

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.