Fiduciary Trust Co Sells 731 Shares of Public Storage (NYSE:PSA)

Fiduciary Trust Co decreased its stake in shares of Public Storage (NYSE:PSA) by 2.0% in the 3rd quarter, Holdings Channel reports. The fund owned 36,214 shares of the real estate investment trust’s stock after selling 731 shares during the quarter. Fiduciary Trust Co’s holdings in Public Storage were worth $13,177,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. SVB Wealth LLC raised its position in Public Storage by 17.8% in the 1st quarter. SVB Wealth LLC now owns 946 shares of the real estate investment trust’s stock valued at $274,000 after buying an additional 143 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Public Storage by 19.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,639 shares of the real estate investment trust’s stock worth $765,000 after acquiring an additional 421 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Public Storage in the first quarter valued at approximately $42,000. Swedbank AB bought a new stake in shares of Public Storage in the first quarter worth $17,465,000. Finally, Atria Investments Inc lifted its position in shares of Public Storage by 1.1% in the first quarter. Atria Investments Inc now owns 5,732 shares of the real estate investment trust’s stock worth $1,663,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PSA. Royal Bank of Canada lowered their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a research report on Monday, August 5th. Scotiabank upped their target price on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company dropped their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average price target of $339.64.

Public Storage Trading Up 0.4 %

Shares of Public Storage stock opened at $351.36 on Thursday. Public Storage has a 1 year low of $253.98 and a 1 year high of $369.99. The company has a market capitalization of $61.53 billion, a price-to-earnings ratio of 36.49, a P/E/G ratio of 5.78 and a beta of 0.70. The business has a fifty day simple moving average of $343.18 and a two-hundred day simple moving average of $318.29. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s payout ratio is 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.