Larson Financial Group LLC Purchases 1,783 Shares of Public Storage (NYSE:PSA)

Larson Financial Group LLC increased its position in shares of Public Storage (NYSE:PSA) by 3,714.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,831 shares of the real estate investment trust’s stock after purchasing an additional 1,783 shares during the period. Larson Financial Group LLC’s holdings in Public Storage were worth $666,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Public Storage by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock valued at $1,023,080,000 after acquiring an additional 54,992 shares during the period. APG Asset Management US Inc. raised its stake in Public Storage by 4.8% during the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock valued at $623,485,000 after purchasing an additional 100,000 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Public Storage by 8.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock worth $343,968,000 after purchasing an additional 95,080 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Public Storage by 9.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 707,952 shares of the real estate investment trust’s stock worth $203,642,000 after purchasing an additional 62,784 shares during the period. Finally, Lasalle Investment Management Securities LLC grew its holdings in Public Storage by 3.4% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 541,835 shares of the real estate investment trust’s stock valued at $157,165,000 after buying an additional 17,701 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 3.0 %

NYSE PSA opened at $347.86 on Tuesday. 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 has a 52 week low of $252.96 and a 52 week high of $369.99. The firm has a market capitalization of $60.91 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 5.61 and a beta of 0.70. The company has a fifty day moving average of $343.52 and a two-hundred day moving average of $317.53.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid 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 dividend yield of 3.45%. Public Storage’s dividend payout ratio is presently 124.61%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Morgan Stanley increased their price objective on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Evercore ISI reduced their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Finally, Royal Bank of Canada dropped their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.