Farther Finance Advisors LLC Sells 315 Shares of Public Storage (NYSE:PSA)

Farther Finance Advisors LLC decreased its position in Public Storage (NYSE:PSA) by 15.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,747 shares of the real estate investment trust’s stock after selling 315 shares during the period. Farther Finance Advisors LLC’s holdings in Public Storage were worth $523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC raised its stake in shares of Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage in the 3rd quarter valued at about $34,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the 4th quarter valued at about $38,000. Toth Financial Advisory Corp raised its stake in shares of Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 66 shares during the period. Finally, Parkworth Wealth Management Inc. acquired a new stake in shares of Public Storage in the 4th quarter valued at about $67,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PSA. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Scotiabank lowered their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada lowered their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, Truist Financial lifted their target price on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $339.69.

Public Storage Price Performance

Shares of NYSE PSA opened at $298.29 on Monday. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a market cap of $52.33 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The business’s 50 day moving average price is $299.80 and its two-hundred day moving average price is $323.47. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, March 13th. 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.