LPL Financial LLC Has $26.46 Million Stock Holdings in Public Storage (NYSE:PSA)

LPL Financial LLC grew its stake in shares of Public Storage (NYSE:PSA) by 20.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,354 shares of the real estate investment trust’s stock after purchasing an additional 15,283 shares during the period. LPL Financial LLC’s holdings in Public Storage were worth $26,457,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC raised its stake in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares during the period. Synergy Asset Management LLC bought a new stake in shares of Public Storage during the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC acquired a new position in shares of Public Storage during the fourth quarter worth approximately $38,000. Toth Financial Advisory Corp lifted its holdings in shares of Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 66 shares in the last quarter. Finally, McIlrath & Eck LLC increased its stake in Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of NYSE:PSA opened at $294.25 on Friday. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company’s 50-day moving average is $299.91 and its 200 day moving average is $320.03. 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 company has a market capitalization of $51.62 billion, a P/E ratio of 30.56, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date was Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.08%. Public Storage’s payout ratio is currently 112.89%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial cut their price target on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Scotiabank decreased their price objective on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Barclays restated an “overweight” rating and issued a $354.00 target price (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Finally, Wells Fargo & Company decreased their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and an average target price of $338.73.

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.