Greykasell Wealth Strategies Inc. Invests $508,000 in Public Storage (NYSE:PSA)

Greykasell Wealth Strategies Inc. purchased a new position in shares of Public Storage (NYSE:PSA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,697 shares of the real estate investment trust’s stock, valued at approximately $508,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC increased its holdings in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Prospera Private Wealth LLC acquired a new stake in Public Storage in the third quarter valued at $34,000. Synergy Asset Management LLC acquired a new stake in Public Storage in the fourth quarter valued at $38,000. Toth Financial Advisory Corp increased its holdings in Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 66 shares during the period. Finally, Parkworth Wealth Management Inc. acquired a new stake in Public Storage in the fourth quarter valued at $67,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Scotiabank decreased their price objective on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada decreased their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Barclays reiterated an “overweight” rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a report on Wednesday. Finally, Wells Fargo & Company decreased their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $339.69.

Public Storage Price Performance

PSA stock opened at $298.29 on Friday. The stock has a market capitalization of $52.33 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The company’s 50-day moving average is $299.80 and its 200-day moving average is $323.72. 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 has a 1 year low of $256.31 and a 1 year high of $369.99.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.02%. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

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.