Public Storage (NYSE:PSA) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its position in shares of Public Storage (NYSE:PSA) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,361 shares of the real estate investment trust’s stock after selling 184 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Public Storage were worth $3,042,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PSA. State of New Jersey Common Pension Fund D boosted its position in shares of Public Storage by 1.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 108,904 shares of the real estate investment trust’s stock worth $39,627,000 after buying an additional 1,582 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Public Storage by 68.2% in the third quarter. Axxcess Wealth Management LLC now owns 1,709 shares of the real estate investment trust’s stock valued at $622,000 after purchasing an additional 693 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new stake in shares of Public Storage in the third quarter valued at approximately $224,000. Sigma Planning Corp acquired a new stake in shares of Public Storage in the third quarter valued at approximately $238,000. Finally, 17 Capital Partners LLC purchased a new position in shares of Public Storage during the 3rd quarter worth approximately $412,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of analyst reports. Truist Financial cut Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a report on Thursday, August 1st. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Wells Fargo & Company lowered their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Citigroup increased their price objective on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Scotiabank boosted their target price on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $339.64.

Public Storage Price Performance

NYSE PSA opened at $330.24 on Wednesday. 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 company has a 50-day moving average price of $346.80 and a two-hundred day moving average price of $312.59. The stock has a market cap of $57.83 billion, a price-to-earnings ratio of 34.29, a price-to-earnings-growth ratio of 4.78 and a beta of 0.70. Public Storage has a 52 week low of $241.60 and a 52 week high of $369.99.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend 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.