Ashton Thomas Securities LLC Purchases Shares of 104 Public Storage (NYSE:PSA)

Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage (NYSE:PSA) during the third quarter, HoldingsChannel reports. The firm acquired 104 shares of the real estate investment trust’s stock, valued at approximately $38,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSA. OFI Invest Asset Management bought a new position in shares of Public Storage during the 2nd quarter worth about $32,000. Opal Wealth Advisors LLC bought a new stake in shares of Public Storage in the 2nd quarter valued at approximately $36,000. Crewe Advisors LLC bought a new position in shares of Public Storage during the 1st quarter worth approximately $39,000. EdgeRock Capital LLC acquired a new stake in Public Storage in the 2nd quarter valued at $39,000. Finally, LRI Investments LLC acquired a new position in Public Storage during the first quarter worth $40,000. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PSA shares. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target for the company. in a report on Monday, August 5th. Wolfe Research raised Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Morgan Stanley lifted their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Evercore ISI decreased their price objective 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. Finally, Royal Bank of Canada decreased 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Stock Up 1.4 %

Shares of Public Storage stock opened at $334.94 on Thursday. The business has a fifty day simple moving average of $346.58 and a 200 day simple moving average of $313.10. The stock has a market cap of $58.65 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 4.66 and a beta of 0.70. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 12 month low of $250.51 and a 12 month high of $369.99.

Public Storage Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.58%. Public Storage’s dividend payout ratio (DPR) is presently 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.