AssuredPartners Investment Advisors LLC Takes $398,000 Position in Public Storage (NYSE:PSA)

AssuredPartners Investment Advisors LLC acquired a new stake in shares of Public Storage (NYSE:PSA) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,329 shares of the real estate investment trust’s stock, valued at approximately $398,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC boosted its stake in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in Public Storage during the 4th quarter worth approximately $38,000. Millstone Evans Group LLC bought a new stake in Public Storage during the 4th quarter worth approximately $38,000. Toth Financial Advisory Corp increased its position in 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. bought a new position in shares of Public Storage during the fourth quarter valued at $67,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.8 %

Shares of NYSE PSA opened at $294.25 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50-day moving average price of $299.91 and a 200-day moving average price of $320.30. The stock has a market capitalization of $51.62 billion, a P/E ratio of 30.56, a P/E/G ratio of 4.91 and a beta of 0.73. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

Wall Street Analyst Weigh In

PSA has been the topic of several analyst reports. Barclays reissued an “overweight” rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Royal Bank of Canada decreased their price target on 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. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and upped their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial lowered their price target on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. Finally, Scotiabank reduced their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and a consensus target price of $338.73.

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.