Sigma Planning Corp Buys New Position in Public Storage (NYSE:PSA)

Sigma Planning Corp purchased a new position in shares of Public Storage (NYSE:PSA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 654 shares of the real estate investment trust’s stock, valued at approximately $238,000.

Several other hedge funds also recently modified their holdings of PSA. OFI Invest Asset Management acquired a new position in Public Storage during the 2nd quarter valued at $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage during the second quarter valued at about $36,000. Crewe Advisors LLC bought a new stake in shares of Public Storage in the first quarter valued at about $39,000. EdgeRock Capital LLC acquired a new stake in Public Storage during the second quarter worth about $39,000. Finally, LRI Investments LLC bought a new position in Public Storage during the first quarter valued at about $40,000. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Up 1.0 %

NYSE PSA opened at $335.01 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $58.66 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 5.57 and a beta of 0.70. The stock’s 50 day simple moving average is $345.99 and its 200 day simple moving average is $313.88. Public Storage has a one year low of $251.49 and a one year high of $369.99.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.58%. Public Storage’s dividend payout ratio is 124.61%.

Analyst Ratings Changes

Several analysts have recently weighed in on PSA shares. Morgan Stanley lifted their price objective on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Evercore ISI decreased their price target on shares of 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. Wells Fargo & Company dropped their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Citigroup increased their price target on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One equities research 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $339.64.

About Public Storage

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.