L & S Advisors Inc Buys 237 Shares of Public Storage (NYSE:PSA)

L & S Advisors Inc grew its stake in Public Storage (NYSE:PSA) by 2.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,359 shares of the real estate investment trust’s stock after purchasing an additional 237 shares during the quarter. L & S Advisors Inc’s holdings in Public Storage were worth $3,401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PSA. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Public Storage by 5.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock worth $16,089,000 after buying an additional 2,566 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in shares of Public Storage by 25.4% during the 4th quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock worth $8,566,000 after acquiring an additional 5,793 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Public Storage by 30.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust’s stock worth $40,926,000 after acquiring an additional 31,662 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Public Storage in the 4th quarter valued at approximately $395,000. Finally, Aew Capital Management L P boosted its position in shares of Public Storage by 108.6% during the fourth quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock valued at $131,574,000 after purchasing an additional 228,740 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PSA shares. Scotiabank decreased their price objective on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. 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 research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Wells Fargo & Company lowered their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Royal Bank of Canada lowered their price objective 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. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $338.73.

Public Storage Stock Performance

Shares of PSA stock opened at $294.25 on Friday. The firm has a market capitalization of $51.62 billion, a PE ratio of 30.56, a P/E/G ratio of 4.91 and a beta of 0.73. The company has a 50 day moving average price of $299.91 and a 200-day moving average price of $320.03. Public Storage has a 52 week low of $256.31 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.

Public Storage Announces Dividend

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

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.