Raymond James Trust N.A. Purchases 221 Shares of Public Storage (NYSE:PSA)

Raymond James Trust N.A. lifted its position in shares of Public Storage (NYSE:PSA) by 11.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,193 shares of the real estate investment trust’s stock after acquiring an additional 221 shares during the period. Raymond James Trust N.A.’s holdings in Public Storage were worth $798,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Lathrop Investment Management Corp bought a new stake in shares of Public Storage during the third quarter valued at approximately $243,000. Charles Schwab Investment Management Inc. boosted its position in shares of Public Storage by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock valued at $1,023,080,000 after purchasing an additional 54,992 shares in the last quarter. L & S Advisors Inc boosted its position in shares of Public Storage by 40.1% during the third quarter. L & S Advisors Inc now owns 11,122 shares of the real estate investment trust’s stock valued at $4,047,000 after purchasing an additional 3,185 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Public Storage by 114.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock valued at $33,302,000 after purchasing an additional 48,803 shares in the last quarter. Finally, Cornerstone Advisors LLC boosted its position in shares of Public Storage by 164.4% during the third quarter. Cornerstone Advisors LLC now owns 11,900 shares of the real estate investment trust’s stock valued at $4,330,000 after purchasing an additional 7,400 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PSA has been the topic of several analyst reports. Royal Bank of Canada dropped their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Citigroup boosted their target price on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Truist Financial downgraded 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. Barclays dropped their target price on Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, Wolfe Research raised Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Trading Up 0.5 %

Shares of NYSE:PSA opened at $337.58 on Monday. The company has a market cap of $59.11 billion, a P/E ratio of 35.06, a PEG ratio of 5.59 and a beta of 0.70. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a 1 year low of $251.49 and a 1 year high of $369.99. The stock’s fifty day moving average price is $343.82 and its 200-day moving average price is $317.02.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Public Storage 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.