693 Shares in Public Storage (NYSE:PSA) Acquired by Avestar Capital LLC

Avestar Capital LLC acquired a new position in Public Storage (NYSE:PSA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 693 shares of the real estate investment trust’s stock, valued at approximately $252,000.

A number of other large investors also recently bought and sold shares of PSA. SVB Wealth LLC raised its stake in Public Storage by 17.8% in the first quarter. SVB Wealth LLC now owns 946 shares of the real estate investment trust’s stock worth $274,000 after buying an additional 143 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Public Storage by 19.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,639 shares of the real estate investment trust’s stock worth $765,000 after purchasing an additional 421 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Public Storage during the first quarter worth $42,000. Swedbank AB acquired a new position in shares of Public Storage during the first quarter worth $17,465,000. Finally, Atria Investments Inc increased its position in shares of Public Storage by 1.1% during the first quarter. Atria Investments Inc now owns 5,732 shares of the real estate investment trust’s stock worth $1,663,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.4 %

PSA opened at $351.36 on Thursday. Public Storage has a twelve month low of $253.98 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 company has a 50-day moving average price of $343.18 and a 200 day moving average price of $318.29. The company has a market cap of $61.53 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 5.78 and a beta of 0.70.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.42%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of recent analyst reports. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target on the stock. in a research report on Monday, August 5th. Evercore ISI dropped their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Morgan Stanley boosted their price objective on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Jefferies Financial Group boosted their price objective on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Citigroup upped their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and an average target price of $339.64.

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.