Dynamic Technology Lab Private Ltd Takes $378,000 Position in Public Storage (NYSE:PSA)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Public Storage (NYSE:PSA) during the third quarter, Holdings Channel reports. The institutional investor purchased 1,040 shares of the real estate investment trust’s stock, valued at approximately $378,000.

Other large investors have also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in Public Storage during the 2nd quarter valued at about $32,000. Prospera Private Wealth LLC purchased a new position in Public Storage during the third quarter valued at approximately $34,000. Opal Wealth Advisors LLC acquired a new position in Public Storage in the 2nd quarter valued at approximately $36,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the 3rd quarter worth approximately $38,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Public Storage during the 2nd quarter valued at $39,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Price Performance

NYSE PSA opened at $348.05 on Friday. Public Storage has a 1 year low of $255.78 and a 1 year high of $369.99. The company has a fifty day simple moving average of $342.76 and a 200 day simple moving average of $319.29. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market cap of $60.95 billion, a P/E ratio of 36.14, a P/E/G ratio of 5.84 and a beta of 0.70.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, December 13th. Public Storage’s dividend payout ratio is currently 124.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PSA shares. Morgan Stanley upped their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Citigroup upped their target price on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Royal Bank of Canada reduced their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. 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 report on Tuesday, November 5th. Finally, Evercore ISI reduced their target price 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average 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.