Insigneo Advisory Services LLC Boosts Holdings in Public Storage (NYSE:PSA)

Insigneo Advisory Services LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 7.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 885 shares of the real estate investment trust’s stock after buying an additional 62 shares during the period. Insigneo Advisory Services LLC’s holdings in Public Storage were worth $265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PSA. Stenger Family Office LLC bought a new position in shares of Public Storage in the 4th quarter worth approximately $1,143,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in Public Storage in the fourth quarter worth $2,706,000. Dagco Inc. purchased a new position in Public Storage during the fourth quarter valued at $242,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Public Storage during the 4th quarter valued at $8,979,000. Finally, Walleye Capital LLC grew its position in shares of Public Storage by 260.5% in the 4th quarter. Walleye Capital LLC now owns 2,592 shares of the real estate investment trust’s stock worth $776,000 after buying an additional 1,873 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Price Performance

Shares of NYSE:PSA opened at $295.75 on Friday. The business has a 50-day simple moving average of $295.93 and a two-hundred day simple moving average of $311.89. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $51.88 billion, a price-to-earnings ratio of 30.71, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were given 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 (DPR) is 112.89%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Truist Financial raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a research note on Thursday, April 10th. Barclays restated an “overweight” rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Mizuho initiated coverage on Public Storage in a research note on Wednesday, April 9th. They set a “neutral” rating and a $287.00 price objective for the company. Royal Bank of Canada cut their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Scotiabank raised Public Storage from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the stock from $333.00 to $305.00 in a research report on Wednesday, April 9th. Six equities research 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. According to MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average price target of $332.08.

About Public Storage

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.