Greykasell Wealth Strategies Inc. Acquires Shares of 1,697 Public Storage (NYSE:PSA)

Greykasell Wealth Strategies Inc. acquired a new stake in Public Storage (NYSE:PSA) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,697 shares of the real estate investment trust’s stock, valued at approximately $508,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSA. Sigma Planning Corp purchased a new stake in Public Storage in the 3rd quarter valued at about $238,000. Apollon Wealth Management LLC increased its stake in shares of Public Storage by 26.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,688 shares of the real estate investment trust’s stock worth $614,000 after purchasing an additional 354 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of Public Storage by 34.0% during the 3rd quarter. Harbour Investments Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $966,000 after purchasing an additional 674 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Public Storage during the 3rd quarter worth approximately $512,000. Finally, Prime Capital Investment Advisors LLC increased its stake in shares of Public Storage by 168.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,523 shares of the real estate investment trust’s stock worth $1,646,000 after purchasing an additional 2,839 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 1.8 %

Shares of NYSE:PSA opened at $298.29 on Friday. The firm has a fifty day moving average price of $299.80 and a two-hundred day moving average price of $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 one year low of $256.31 and a one year high of $369.99. The company has a market cap of $52.33 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PSA. Barclays restated an “overweight” rating and set a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada decreased their price target on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Scotiabank reduced their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $339.69.

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.