Insigneo Advisory Services LLC Purchases 62 Shares of Public Storage (NYSE:PSA)

Insigneo Advisory Services LLC lifted its position in Public Storage (NYSE:PSA) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 885 shares of the real estate investment trust’s stock after purchasing an additional 62 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Public Storage were worth $265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PSA. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Public Storage by 5.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock valued at $16,089,000 after acquiring an additional 2,566 shares in the last quarter. Capital Investment Advisors LLC lifted its position in Public Storage by 25.4% during the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after purchasing an additional 5,793 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Public Storage by 30.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust’s stock worth $40,926,000 after buying an additional 31,662 shares in the last quarter. Meridian Wealth Management LLC bought a new position in shares of Public Storage in the 4th quarter worth $395,000. Finally, Aew Capital Management L P increased its holdings in shares of Public Storage by 108.6% in the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock worth $131,574,000 after buying an additional 228,740 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PSA. 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. Wells Fargo & Company reduced their price objective 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. Royal Bank of Canada dropped their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Scotiabank raised shares of Public Storage from a “sector perform” rating to a “sector outperform” rating and decreased their price target for the stock from $333.00 to $305.00 in a research note on Wednesday, April 9th. Finally, Barclays reaffirmed an “overweight” rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and a consensus price target of $332.08.

Public Storage Price Performance

Shares of Public Storage stock opened at $295.75 on Friday. The company’s fifty day simple moving average is $295.93 and its two-hundred day simple moving average is $311.89. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The firm has a market cap of $51.88 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were issued a dividend of $3.00 per share. The ex-dividend date was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.06%. Public Storage’s dividend payout ratio is presently 112.89%.

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.