MML Investors Services LLC Has $6.35 Million Holdings in Public Storage (NYSE:PSA)

MML Investors Services LLC increased its stake in shares of Public Storage (NYSE:PSA) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,196 shares of the real estate investment trust’s stock after acquiring an additional 603 shares during the period. MML Investors Services LLC’s holdings in Public Storage were worth $6,347,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PSA. 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. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage in the 4th quarter valued at approximately $32,000. Synergy Asset Management LLC bought a new stake in Public Storage in the 4th quarter valued at approximately $38,000. Millstone Evans Group LLC acquired a new position in Public Storage during the 4th quarter worth approximately $38,000. Finally, Bridge Generations Wealth Management LLC bought a new position in shares of Public Storage during the 4th quarter worth approximately $56,000. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Down 0.5 %

NYSE PSA opened at $293.77 on Friday. The company has a market cap of $51.53 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. 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’s fifty day moving average is $295.45 and its 200 day moving average is $310.32.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is currently 112.89%.

Wall Street Analyst Weigh In

Several research analysts recently commented on PSA shares. Mizuho began coverage on shares of Public Storage in a report on Wednesday, April 9th. They set a “neutral” rating and a $287.00 target price for the company. Truist Financial upgraded Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a report on Thursday, April 10th. Royal Bank of Canada dropped their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Bank of America upgraded Public Storage from a “neutral” rating to a “buy” rating and raised their price target for the company from $349.00 to $368.00 in a research note on Tuesday. Finally, 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. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $336.25.

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.