GSA Capital Partners LLP Makes New $512,000 Investment in Public Storage (NYSE:PSA)

GSA Capital Partners LLP purchased a new position in Public Storage (NYSE:PSA) during the third quarter, Holdings Channel reports. The fund purchased 1,406 shares of the real estate investment trust’s stock, valued at approximately $512,000.

A number of other large investors have also bought and sold shares of the stock. Petredis Investment Advisors LLC increased its stake in Public Storage by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock worth $2,497,000 after purchasing an additional 30 shares during the period. S.A. Mason LLC increased its stake in Public Storage by 3.8% in the 3rd quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 30 shares during the period. Yoder Wealth Management Inc. increased its stake in Public Storage by 5.0% in the 3rd quarter. Yoder Wealth Management Inc. now owns 763 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 36 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Public Storage by 0.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock valued at $1,201,000 after buying an additional 39 shares during the period. Finally, Rise Advisors LLC increased its stake in shares of Public Storage by 3.4% during the third quarter. Rise Advisors LLC now owns 1,275 shares of the real estate investment trust’s stock valued at $464,000 after buying an additional 42 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Down 0.8 %

Public Storage stock opened at $334.50 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The business’s fifty day simple moving average is $345.22 and its two-hundred day simple moving average is $315.64. Public Storage has a 12 month low of $251.49 and a 12 month high of $369.99. The company has a market capitalization of $58.57 billion, a price-to-earnings ratio of 34.74, a price-to-earnings-growth ratio of 5.57 and a beta of 0.70.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Analyst Ratings Changes

Several research firms have recently issued reports on PSA. Evercore ISI reduced their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Barclays reduced their target price on Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Wolfe Research raised Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a research note on Monday, August 5th. Finally, Morgan Stanley boosted their target price on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average 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.