Summit Trail Advisors LLC Has $552,000 Holdings in Public Storage (NYSE:PSA)

Summit Trail Advisors LLC increased its stake in shares of Public Storage (NYSE:PSA) by 12.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,516 shares of the real estate investment trust’s stock after purchasing an additional 173 shares during the period. Summit Trail Advisors LLC’s holdings in Public Storage were worth $552,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in shares of Public Storage during the second quarter worth $32,000. Prospera Private Wealth LLC acquired a new position in Public Storage in the third quarter valued at about $34,000. Opal Wealth Advisors LLC acquired a new position in Public Storage in the second quarter valued at about $36,000. Ashton Thomas Securities LLC acquired a new position in Public Storage in the third quarter valued at about $38,000. Finally, EdgeRock Capital LLC acquired a new position in Public Storage in the second quarter valued at about $39,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Up 0.6 %

PSA stock opened at $350.04 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The business has a 50 day moving average price of $343.37 and a two-hundred day moving average price of $318.06. The company has a market cap of $61.30 billion, a price-to-earnings ratio of 36.35, a P/E/G ratio of 5.61 and a beta of 0.70. Public Storage has a twelve month low of $252.96 and a twelve month high of $369.99.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.43%. Public Storage’s dividend payout ratio is 124.61%.

Analyst Ratings Changes

PSA has been the subject of a number of research analyst reports. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research note on Monday, August 5th. Evercore ISI decreased their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Citigroup boosted their target price on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Scotiabank boosted their target price on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley upped their price objective on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. One equities 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $339.64.

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.