Public Storage (NYSE:PSA) Shares Sold by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC cut its stake in shares of Public Storage (NYSE:PSA) by 52.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,123 shares of the real estate investment trust’s stock after selling 10,127 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Public Storage were worth $3,320,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in Public Storage in the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage during the third quarter valued at approximately $38,000. OFI Invest Asset Management acquired a new stake in shares of Public Storage during the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Public Storage in the 2nd quarter valued at approximately $36,000. Finally, EdgeRock Capital LLC acquired a new position in Public Storage in the 2nd quarter worth approximately $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Up 0.5 %

Shares of NYSE:PSA opened at $337.62 on Friday. Public Storage has a 1 year low of $251.49 and a 1 year high of $369.99. The firm has a fifty day moving average price of $343.82 and a 200 day moving average price of $316.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $59.12 billion, a PE ratio of 35.06, a P/E/G ratio of 5.59 and a beta of 0.70.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s payout ratio is 124.61%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Royal Bank of Canada cut their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Barclays dropped their price target on Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Truist Financial lowered Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective for the company. in a research report on Thursday, August 1st. Evercore ISI dropped 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, Morgan Stanley raised their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average 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.