Janney Montgomery Scott LLC Has $12.28 Million Stock Holdings in Public Storage (NYSE:PSA)

Janney Montgomery Scott LLC boosted its position in Public Storage (NYSE:PSA) by 0.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,756 shares of the real estate investment trust’s stock after buying an additional 245 shares during the period. Janney Montgomery Scott LLC’s holdings in Public Storage were worth $12,283,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Public Storage during the second quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new stake in Public Storage during the 2nd quarter valued at $36,000. Crewe Advisors LLC acquired a new position in Public Storage during the first quarter worth $39,000. EdgeRock Capital LLC bought a new position in shares of Public Storage in the second quarter valued at $39,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Public Storage during the third quarter valued at about $50,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Price Performance

NYSE PSA opened at $325.31 on Thursday. 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 company has a market cap of $56.94 billion, a PE ratio of 33.78, a price-to-earnings-growth ratio of 4.69 and a beta of 0.70. Public Storage has a 52 week low of $241.60 and a 52 week high of $369.99. The firm’s 50-day simple moving average is $347.20 and its two-hundred day simple moving average is $310.65.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PSA. Jefferies Financial Group raised their price target on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Evercore ISI decreased their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. 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 research note on Tuesday. Finally, Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $340.71.

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.