American Assets Capital Advisers LLC Has $1.27 Million Holdings in Public Storage (NYSE:PSA)

American Assets Capital Advisers LLC boosted its stake in Public Storage (NYSE:PSA) by 63.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,225 shares of the real estate investment trust’s stock after buying an additional 1,646 shares during the quarter. American Assets Capital Advisers LLC’s holdings in Public Storage were worth $1,265,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PSA. Sigma Planning Corp acquired a new stake in shares of Public Storage during the 3rd quarter worth about $238,000. Apollon Wealth Management LLC increased its holdings in shares of Public Storage by 26.5% during the third quarter. Apollon Wealth Management LLC now owns 1,688 shares of the real estate investment trust’s stock worth $614,000 after buying an additional 354 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Public Storage in the third quarter valued at approximately $512,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Public Storage by 31.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the real estate investment trust’s stock worth $2,678,000 after acquiring an additional 1,782 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in Public Storage by 13.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 9,308 shares of the real estate investment trust’s stock worth $3,387,000 after acquiring an additional 1,091 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Price Performance

PSA opened at $298.29 on Friday. The company has a fifty day moving average price of $299.80 and a two-hundred day moving average price of $323.59. The firm has a market capitalization of $52.33 billion, a PE ratio of 30.98, a P/E/G ratio of 4.91 and a beta of 0.73. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.02%. Public Storage’s dividend payout ratio is presently 112.89%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PSA. Barclays reiterated an “overweight” rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research report on Wednesday. Wells Fargo & Company cut their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Scotiabank decreased their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Truist Financial raised their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $339.69.

About Public Storage

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.