Several hedge funds and investors changed their holdings in Public Storage. OFI Invest Asset Management bought a new stake worth about $32,000, while Opal Wealth Advisors LLC invested $36,000. Riverview Trust Co and Crewe Advisors LLC also acquired new positions valued at $37,000 and $39,000, respectively. EdgeRock Capital LLC made a similar investment of $39,000. Overall, 78.79% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Brokerages have recently analyzed Public Storage (PSA). Wolfe Research has given it a “strong-buy” rating. Jefferies raised the target price from $360 to $422 with a “buy” rating. The Royal Bank of Canada rated it as “sector perform” with a target of $358. Truist Financial changed their rating from “buy” to “hold” at $306. Citigroup increased their target from $303 to $378 and gave a “buy” rating. Currently, the stock has a “Moderate Buy” consensus with an average target price of $337.36.
Public Storage Trading Up 0.2%
The stock opened at $342.83 with a 52-week range of $233.18 to $369.99. Public Storage has a market cap of $60.24 billion and a price-to-earnings ratio of 31.14. Latest quarterly earnings reported on July 30 showed $2.66 EPS, underperforming the $4.20 consensus estimate.
Dividend Announcement
Public Storage declared a quarterly dividend of $3.00 per share, paid on September 30. This gives an annual dividend of $12.00, yielding 3.50%. The dividend payout ratio is 108.99%.
Public Storage Profile
Public Storage, part of the S&P 500, mainly operates self-storage facilities. As of December 31, 2023, it manages 3,044 facilities in the U.S. and has a 35% interest in Shurgard Self Storage with facilities in Western Europe.
Further Reading
- Five stocks we like better than Public Storage
- How to Calculate Inflation Rate
- 3 Mid-Cap Stocks Under $20 With Insider Buying and Major Upside
- What Are the FAANG Stocks and Are They Good Investments?
- China’s EV Rally: Should Investors Chase, Avoid, or Buy the Dip?
- 3 Must-Buy Warren Buffett Stocks for Volatile Times
- MarketBeat Week in Review – 10/7 – 10/11
Want to see more hedge fund holdings in PSA? Visit HoldingsChannel.com for the latest filings.
Receive News & Ratings for Public Storage Daily – Enter your email below for a daily summary of news and ratings for Public Storage and related companies with MarketBeat.com’s FREE daily email newsletter.
`
