Buck Wealth Strategies LLC Lowers Stock Position in Public Storage (NYSE:PSA)

Buck Wealth Strategies LLC decreased its holdings in Public Storage (NYSE:PSA) by 35.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,414 shares of the real estate investment trust’s stock after selling 777 shares during the quarter. Buck Wealth Strategies LLC’s holdings in Public Storage were worth $514,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PSA. Ashton Thomas Securities LLC purchased a new position in Public Storage in the 3rd quarter valued at $38,000. OFI Invest Asset Management purchased a new stake in shares of Public Storage in the second quarter valued at about $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage during the second quarter worth about $36,000. Crewe Advisors LLC purchased a new stake in Public Storage in the 1st quarter valued at approximately $39,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Public Storage in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective for the company. in a research note on Thursday, August 1st. Scotiabank boosted their price target on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Evercore ISI dropped their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Citigroup boosted their target price 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, Royal Bank of Canada cut their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Public Storage presently 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 $330.24 on Wednesday. The business has a fifty day simple moving average of $346.80 and a 200-day simple moving average of $312.59. Public Storage has a 52 week low of $241.60 and a 52 week high of $369.99. The company has a market cap of $57.83 billion, a P/E ratio of 34.29, a P/E/G ratio of 4.75 and a beta of 0.70. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Friday, December 13th. Public Storage’s dividend payout ratio is currently 124.61%.

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.