Prestige Wealth Management Group LLC Has $676,000 Position in Public Storage (NYSE:PSA)

Prestige Wealth Management Group LLC lifted its position in Public Storage (NYSE:PSA) by 9.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,256 shares of the real estate investment trust’s stock after purchasing an additional 192 shares during the period. Prestige Wealth Management Group LLC’s holdings in Public Storage were worth $676,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PSA. State Street Corp increased its position in shares of Public Storage by 0.5% in the 3rd quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock valued at $3,773,571,000 after buying an additional 55,123 shares in the last quarter. FMR LLC grew its stake in shares of Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after acquiring an additional 869,066 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Public Storage by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock worth $1,425,941,000 after purchasing an additional 52,807 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Public Storage by 732.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock valued at $561,763,000 after buying an additional 1,358,493 shares during the last quarter. Finally, Adelante Capital Management LLC lifted its position in Public Storage by 389.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock worth $532,465,000 after buying an additional 1,164,630 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 1.3 %

Shares of Public Storage stock opened at $295.07 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The stock has a 50 day moving average price of $300.07 and a two-hundred day moving average price of $321.50. The stock has a market capitalization of $51.76 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The business 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 dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays reaffirmed an “overweight” rating and issued a $354.00 target price (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Truist Financial dropped their price target on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company decreased their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. 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 report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average target price of $338.00.

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.