Empowered Funds LLC Buys 220 Shares of Public Storage (NYSE:PSA)

Empowered Funds LLC increased its stake in shares of Public Storage (NYSE:PSA) by 9.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,530 shares of the real estate investment trust’s stock after purchasing an additional 220 shares during the quarter. Empowered Funds LLC’s holdings in Public Storage were worth $921,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in Public Storage by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after acquiring an additional 219,391 shares during the period. APG Asset Management US Inc. boosted its holdings in Public Storage by 4.8% during the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock valued at $623,485,000 after acquiring an additional 100,000 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Public Storage by 8.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock valued at $343,968,000 after acquiring an additional 95,080 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Public Storage by 9.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 707,952 shares of the real estate investment trust’s stock valued at $203,642,000 after acquiring an additional 62,784 shares during the period. Finally, Lasalle Investment Management Securities LLC boosted its holdings in Public Storage by 3.4% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 541,835 shares of the real estate investment trust’s stock valued at $157,165,000 after acquiring an additional 17,701 shares during the period. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Truist Financial cut Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective for the company. in a report on Thursday, August 1st. Royal Bank of Canada lowered their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Barclays lowered their target price on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Jefferies Financial Group upped their target price on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Evercore ISI lowered their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Price Performance

Shares of NYSE PSA opened at $337.62 on Friday. Public Storage has a 52 week low of $251.49 and a 52 week high of $369.99. The business’s 50 day moving average price is $343.82 and its 200 day moving average price is $316.39. 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 firm has a market cap of $59.12 billion, a P/E ratio of 35.06, a P/E/G ratio of 5.56 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. Shareholders of record on Friday, December 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio is currently 124.61%.

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.