RD Lewis Holdings Inc. Invests $989,000 in Public Storage (NYSE:PSA)

RD Lewis Holdings Inc. bought a new position in shares of Public Storage (NYSE:PSA) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 3,267 shares of the real estate investment trust’s stock, valued at approximately $989,000.

A number of other institutional investors have also modified their holdings of the company. Edgemoor Investment Advisors Inc. grew its holdings in shares of Public Storage by 2.7% during the 4th quarter. Edgemoor Investment Advisors Inc. now owns 26,408 shares of the real estate investment trust’s stock worth $7,908,000 after purchasing an additional 685 shares during the period. Curio Wealth LLC purchased a new stake in shares of Public Storage during the 4th quarter worth about $107,000. Cibc World Markets Corp grew its holdings in shares of Public Storage by 12.1% during the 4th quarter. Cibc World Markets Corp now owns 70,708 shares of the real estate investment trust’s stock worth $21,173,000 after purchasing an additional 7,648 shares during the period. American Assets Capital Advisers LLC lifted its position in Public Storage by 63.8% during the 4th quarter. American Assets Capital Advisers LLC now owns 4,225 shares of the real estate investment trust’s stock worth $1,265,000 after acquiring an additional 1,646 shares in the last quarter. Finally, Gallacher Capital Management LLC raised its position in shares of Public Storage by 11.1% in the 4th quarter. Gallacher Capital Management LLC now owns 1,480 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PSA. Truist Financial boosted their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Scotiabank lowered their price objective on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. Barclays reissued an “overweight” rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research note 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 research note on Friday, February 21st. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.69.

Public Storage Trading Up 0.7 %

Shares of NYSE PSA opened at $300.37 on Tuesday. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The company has a market cap of $52.69 billion, a price-to-earnings ratio of 31.19, a P/E/G ratio of 4.91 and a beta of 0.73. 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 business has a fifty day simple moving average of $299.89 and a 200-day simple moving average of $323.18.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

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.