Public Storage (NYSE:PSA) Shares Bought by Caprock Group LLC

Caprock Group LLC boosted its stake in Public Storage (NYSE:PSA) by 52.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,056 shares of the real estate investment trust’s stock after buying an additional 1,046 shares during the period. Caprock Group LLC’s holdings in Public Storage were worth $1,112,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Lake Street Advisors Group LLC acquired a new position in Public Storage in the first quarter worth approximately $248,000. Pitcairn Co. lifted its stake in Public Storage by 15.9% during the first quarter. Pitcairn Co. now owns 868 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 119 shares in the last quarter. MQS Management LLC acquired a new position in shares of Public Storage in the first quarter worth about $238,000. CreativeOne Wealth LLC lifted its position in shares of Public Storage by 15.8% in the 1st quarter. CreativeOne Wealth LLC now owns 895 shares of the real estate investment trust’s stock valued at $260,000 after acquiring an additional 122 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in Public Storage by 18.1% in the 1st quarter. EP Wealth Advisors LLC now owns 2,281 shares of the real estate investment trust’s stock worth $662,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 1.3 %

Shares of PSA opened at $337.24 on Friday. The stock’s fifty day simple moving average is $344.25 and its 200-day simple moving average is $315.91. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $59.05 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 5.56 and a beta of 0.70. Public Storage has a 12-month low of $251.49 and a 12-month high of $369.99.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 yield of 3.56%. Public Storage’s payout ratio is presently 124.61%.

Wall Street Analyst Weigh In

Several analysts recently commented on PSA shares. Citigroup raised their price target on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a research report on Thursday, August 1st. Evercore ISI reduced their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Scotiabank boosted their target price on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Finally, Barclays decreased their price objective on Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.64.

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.