Fifth Third Wealth Advisors LLC Grows Stock Holdings in Public Storage (NYSE:PSA)

Fifth Third Wealth Advisors LLC lifted its position in shares of Public Storage (NYSE:PSA) by 5.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,392 shares of the real estate investment trust’s stock after purchasing an additional 66 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Public Storage were worth $507,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Chesapeake Wealth Management lifted its position in Public Storage by 2.2% in the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock valued at $560,000 after acquiring an additional 33 shares during the last quarter. Caprock Group LLC lifted its position in Public Storage by 52.0% in the third quarter. Caprock Group LLC now owns 3,056 shares of the real estate investment trust’s stock valued at $1,112,000 after acquiring an additional 1,046 shares during the last quarter. Lindenwold Advisors INC lifted its position in Public Storage by 0.8% in the third quarter. Lindenwold Advisors INC now owns 4,390 shares of the real estate investment trust’s stock valued at $1,597,000 after acquiring an additional 34 shares during the last quarter. Aviance Capital Partners LLC purchased a new stake in Public Storage in the third quarter valued at $222,000. Finally, Meeder Advisory Services Inc. lifted its position in Public Storage by 1.4% in the third quarter. Meeder Advisory Services Inc. now owns 3,594 shares of the real estate investment trust’s stock valued at $1,308,000 after acquiring an additional 51 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PSA shares. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target for the company. in a research report on Monday, August 5th. Wells Fargo & Company reduced their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Barclays reduced their target price on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Truist Financial cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.64.

Public Storage Price Performance

Public Storage stock opened at $332.86 on Thursday. Public Storage has a 52-week low of $251.49 and a 52-week high of $369.99. The firm has a fifty day moving average of $344.69 and a 200-day moving average of $315.76. The firm has a market capitalization of $58.29 billion, a P/E ratio of 34.56, a PEG ratio of 5.57 and a beta of 0.70. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Friday, December 13th. Public Storage’s payout ratio is currently 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.