Berger Financial Group Inc Has $472,000 Stock Holdings in Public Storage (NYSE:PSA)

Berger Financial Group Inc cut its holdings in shares of Public Storage (NYSE:PSA) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,576 shares of the real estate investment trust’s stock after selling 66 shares during the period. Berger Financial Group Inc’s holdings in Public Storage were worth $472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSA. Johnson Financial Group Inc. grew its position in Public Storage by 24.3% in the 4th quarter. Johnson Financial Group Inc. now owns 7,970 shares of the real estate investment trust’s stock worth $2,379,000 after purchasing an additional 1,558 shares in the last quarter. Boothbay Fund Management LLC boosted its stake in Public Storage by 871.9% in the fourth quarter. Boothbay Fund Management LLC now owns 18,573 shares of the real estate investment trust’s stock valued at $5,561,000 after acquiring an additional 16,662 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Public Storage during the 4th quarter valued at approximately $17,321,000. Virtus ETF Advisers LLC lifted its stake in shares of Public Storage by 11.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 3,910 shares of the real estate investment trust’s stock valued at $1,171,000 after buying an additional 406 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Public Storage by 3.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,052 shares of the real estate investment trust’s stock valued at $615,000 after buying an additional 59 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Royal Bank of Canada lowered their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and upped their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Bank of America raised Public Storage from a “neutral” rating to a “buy” rating and upped their price target for the company from $349.00 to $368.00 in a research report on Tuesday, April 22nd. Finally, Mizuho began coverage on Public Storage in a research report on Wednesday, April 9th. They issued a “neutral” rating and a $287.00 target price for the company. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $336.25.

Public Storage Stock Performance

Shares of PSA opened at $291.76 on Tuesday. The business’s fifty day simple moving average is $295.22 and its two-hundred day simple moving average is $309.08. 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 has a 12 month low of $256.31 and a 12 month high of $369.99. The company has a market cap of $51.18 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 4.91 and a beta of 0.76.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.11%. Public Storage’s payout ratio is 112.89%.

About Public Storage

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.