Public Storage (NYSE:PSA) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC trimmed its position in shares of Public Storage (NYSE:PSA) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 344 shares of the real estate investment trust’s stock after selling 40 shares during the period. Avior Wealth Management LLC’s holdings in Public Storage were worth $125,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage during the third quarter valued at about $38,000. OFI Invest Asset Management acquired a new stake in Public Storage during the 2nd quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage during the 2nd quarter worth approximately $36,000. EdgeRock Capital LLC acquired a new position in shares of Public Storage in the 2nd quarter valued at approximately $39,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of Public Storage during the 3rd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.5 %

Public Storage stock opened at $337.58 on Friday. 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 one year low of $251.49 and a one year high of $369.99. The company has a 50-day simple moving average of $343.82 and a 200-day simple moving average of $316.69. The firm has a market capitalization of $59.11 billion, a P/E ratio of 35.06, a P/E/G ratio of 5.59 and a beta of 0.70.

Public Storage Dividend Announcement

The company also recently declared 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 is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.55%. Public Storage’s payout ratio is currently 124.61%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PSA. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Evercore ISI reduced their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company lowered their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a report on Thursday, August 1st. Finally, Scotiabank boosted their price target on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. One investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $339.64.

Public Storage Company 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.