31,933 Shares in Public Storage (NYSE:PSA) Bought by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC acquired a new stake in Public Storage (NYSE:PSA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 31,933 shares of the real estate investment trust’s stock, valued at approximately $9,562,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quent Capital LLC raised its holdings in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC acquired a new stake in shares of Public Storage in the fourth quarter valued at approximately $38,000. Toth Financial Advisory Corp increased its holdings in shares of Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 66 shares during the period. Finally, Parkworth Wealth Management Inc. purchased a new stake in Public Storage in the 4th quarter valued at $67,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSA has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada cut their price objective on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Scotiabank cut their price target on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Finally, Truist Financial lowered their target price on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $338.00.

Public Storage Price Performance

Shares of NYSE:PSA opened at $292.21 on Friday. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a market capitalization of $51.26 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a fifty day moving average of $299.95 and a 200-day moving average of $320.70.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.11%. Public Storage’s dividend payout ratio is 112.89%.

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.