591 Shares in Public Storage (NYSE:PSA) Bought by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC purchased a new position in Public Storage (NYSE:PSA) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 591 shares of the real estate investment trust’s stock, valued at approximately $171,000.

Several other institutional investors have also recently added to or reduced their stakes in PSA. Integrated Wealth Concepts LLC grew its position in shares of Public Storage by 16.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust’s stock worth $2,567,000 after acquiring an additional 1,349 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Public Storage by 8.0% in the third quarter. The Manufacturers Life Insurance Company now owns 123,852 shares of the real estate investment trust’s stock worth $32,638,000 after purchasing an additional 9,223 shares during the period. Gold Investment Management Ltd. bought a new stake in Public Storage during the fourth quarter valued at $849,000. Raymond James & Associates raised its holdings in shares of Public Storage by 4.3% during the fourth quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock worth $34,917,000 after purchasing an additional 4,695 shares during the period. Finally, Ellsworth Advisors LLC lifted its position in shares of Public Storage by 615.7% in the 4th quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust’s stock worth $6,040,000 after buying an additional 17,036 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PSA shares. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Citigroup boosted their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. Evercore ISI dropped their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. 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. Finally, Scotiabank lifted 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $340.71.

Public Storage Trading Up 0.4 %

Shares of NYSE:PSA traded up $1.33 during midday trading on Tuesday, reaching $333.89. The company had a trading volume of 137,883 shares, compared to its average volume of 709,421. The company has a fifty day simple moving average of $347.55 and a two-hundred day simple moving average of $309.98. The firm has a market cap of $58.44 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 4.56 and a beta of 0.70. Public Storage has a 1-year low of $241.60 and a 1-year high of $369.99. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.59%. The ex-dividend date is Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

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.