Public Storage (NYSE:PSA) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in shares of Public Storage (NYSE:PSA) by 12.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,396 shares of the real estate investment trust’s stock after selling 2,671 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Public Storage were worth $7,058,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PSA. OFI Invest Asset Management acquired a new stake in shares of Public Storage in the second quarter worth $32,000. Opal Wealth Advisors LLC purchased a new position in Public Storage in the second quarter valued at about $36,000. Ashton Thomas Securities LLC purchased a new position in Public Storage in the third quarter valued at about $38,000. Crewe Advisors LLC acquired a new position in shares of Public Storage during the first quarter worth about $39,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Public Storage in the second quarter worth about $39,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PSA has been the topic of several recent research reports. Scotiabank boosted their price target on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Morgan Stanley boosted their target price on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Evercore ISI dropped their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company cut their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $339.64.

Public Storage Trading Up 0.7 %

NYSE:PSA opened at $337.29 on Tuesday. Public Storage has a 52 week low of $251.49 and a 52 week 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. The company has a market cap of $59.06 billion, a PE ratio of 35.02, a P/E/G ratio of 5.57 and a beta of 0.70. The business’s 50 day moving average is $345.71 and its two-hundred day moving average is $315.16.

Public Storage Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.56%. Public Storage’s payout ratio is 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.