Public Storage (NYSE:PSA) Holdings Raised by Lindenwold Advisors INC

Lindenwold Advisors INC boosted its stake in Public Storage (NYSE:PSA) by 0.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,390 shares of the real estate investment trust’s stock after buying an additional 34 shares during the period. Lindenwold Advisors INC’s holdings in Public Storage were worth $1,597,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Manning & Napier Advisors LLC bought a new position in Public Storage during the 2nd quarter valued at $14,301,000. Allspring Global Investments Holdings LLC boosted its stake in Public Storage by 1.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock valued at $51,762,000 after buying an additional 2,605 shares in the last quarter. PGGM Investments grew its holdings in Public Storage by 8.0% during the second quarter. PGGM Investments now owns 167,431 shares of the real estate investment trust’s stock worth $48,162,000 after acquiring an additional 12,396 shares during the period. Swedbank AB bought a new stake in Public Storage in the first quarter worth about $17,465,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Public Storage by 15.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 20,566 shares of the real estate investment trust’s stock valued at $5,916,000 after acquiring an additional 2,770 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Up 0.7 %

PSA stock opened at $337.29 on Tuesday. The company has a 50 day moving average of $345.71 and a two-hundred day moving average of $315.16. The company has a market cap of $59.06 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 5.57 and a beta of 0.70. Public Storage has a 12-month low of $251.49 and a 12-month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.56%. Public Storage’s payout ratio is 124.61%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PSA shares. Jefferies Financial Group lifted their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Truist Financial cut Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a report on Thursday, August 1st. Citigroup raised their price objective on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Morgan Stanley boosted their target price on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Barclays decreased their price target on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.64.

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.