Glenmede Trust Co. NA Has $1.25 Million Stake in Public Storage (NYSE:PSA)

Glenmede Trust Co. NA cut its stake in Public Storage (NYSE:PSA) by 58.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,424 shares of the real estate investment trust’s stock after selling 4,857 shares during the period. Glenmede Trust Co. NA’s holdings in Public Storage were worth $1,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Public Storage during the second quarter worth about $32,000. Prospera Private Wealth LLC acquired a new position in Public Storage during the 3rd quarter worth approximately $34,000. Opal Wealth Advisors LLC acquired a new position in Public Storage during the 2nd quarter worth approximately $36,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage during the 3rd quarter worth approximately $38,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Public Storage in the second quarter valued at approximately $39,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 0.9 %

PSA stock opened at $348.05 on Monday. Public Storage has a one year low of $255.78 and a one year high of $369.99. The stock has a market cap of $60.95 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 5.79 and a beta of 0.70. The company has a fifty day moving average price of $342.76 and a two-hundred day moving average price of $319.51. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s payout ratio is 124.61%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PSA shares. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research report on Monday, August 5th. Morgan Stanley lifted their target price on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reduced their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Citigroup boosted their price target on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Jefferies Financial Group increased their price objective on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and a consensus 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.