ICW Investment Advisors LLC Has $1.16 Million Stake in Public Storage (NYSE:PSA)

ICW Investment Advisors LLC raised its stake in Public Storage (NYSE:PSA) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,862 shares of the real estate investment trust’s stock after purchasing an additional 117 shares during the period. ICW Investment Advisors LLC’s holdings in Public Storage were worth $1,156,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PSA. Quent Capital LLC lifted its position in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 50 shares during the period. Synergy Asset Management LLC acquired a new position in shares of Public Storage in the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC acquired a new position in shares of Public Storage in the fourth quarter valued at approximately $38,000. Toth Financial Advisory Corp increased its position in Public Storage by 48.2% during 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, McIlrath & Eck LLC increased its position in Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 43 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSA has been the topic of a number of research analyst reports. Truist Financial cut their price target on Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company dropped their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Scotiabank dropped their price objective on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and raised their target price for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Barclays reissued an “overweight” rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $338.00.

Public Storage Stock Performance

NYSE PSA opened at $291.19 on Monday. The stock has a market capitalization of $51.08 billion, a PE ratio of 30.24, a P/E/G ratio of 4.91 and a beta of 0.73. The business has a 50 day simple moving average of $299.96 and a two-hundred day simple moving average of $321.83. 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 $256.31 and a 1-year high of $369.99.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Thursday, March 13th. Public Storage’s payout ratio is 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.