Meeder Advisory Services Inc. Lowers Holdings in Public Storage (NYSE:PSA)

Meeder Advisory Services Inc. lowered its position in shares of Public Storage (NYSE:PSA) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,542 shares of the real estate investment trust’s stock after selling 52 shares during the period. Meeder Advisory Services Inc.’s holdings in Public Storage were worth $1,061,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PSA. Walleye Capital LLC bought a new stake in shares of Public Storage in the 3rd quarter valued at about $262,000. Benjamin Edwards Inc. raised its stake in Public Storage by 464.7% in the third quarter. Benjamin Edwards Inc. now owns 11,768 shares of the real estate investment trust’s stock worth $4,284,000 after buying an additional 9,684 shares in the last quarter. Ascent Group LLC purchased a new stake in Public Storage during the third quarter worth $233,000. Hilltop Holdings Inc. bought a new stake in Public Storage during the 3rd quarter valued at $349,000. Finally, HighTower Advisors LLC increased its holdings in shares of Public Storage by 0.6% in the 3rd quarter. HighTower Advisors LLC now owns 349,663 shares of the real estate investment trust’s stock valued at $127,241,000 after acquiring an additional 1,969 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Down 0.5 %

Public Storage stock opened at $297.44 on Thursday. The stock has a 50-day moving average price of $300.14 and a 200 day moving average price of $318.76. The company has a market capitalization of $52.18 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is currently 112.89%.

Wall Street Analyst Weigh In

PSA has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Scotiabank cut their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada decreased their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Barclays reaffirmed an “overweight” rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Finally, Truist Financial decreased their price objective on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $338.73.

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.