Advisor Group Holdings Inc. Acquires 1,622 Shares of Public Storage (NYSE:PSA)

Posted by Defense World Staff on May 29th, 2023

Advisor Group Holdings Inc. lifted its holdings in shares of Public Storage (NYSE:PSA – Get Rating) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,273 shares of the real estate investment trust’s stock after purchasing an additional 1,622 shares during the period. Advisor Group Holdings Inc.’s holdings in Public Storage were worth $9,611,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. ICW Investment Advisors LLC raised its stake in shares of Public Storage by 1.1% during the 4th quarter. ICW Investment Advisors LLC now owns 3,272 shares of the real estate investment trust’s stock worth $917,000 after purchasing an additional 34 shares during the period. Spectrum Asset Management Inc. NB CA grew its position in Public Storage by 0.8% during the fourth quarter. Spectrum Asset Management Inc. NB CA now owns 4,250 shares of the real estate investment trust’s stock valued at $1,191,000 after acquiring an additional 35 shares during the last quarter. Gyroscope Capital Management Group LLC grew its position in Public Storage by 2.2% during the fourth quarter. Gyroscope Capital Management Group LLC now owns 1,649 shares of the real estate investment trust’s stock valued at $462,000 after acquiring an additional 35 shares during the last quarter. Zions Bancorporation N.A. grew its position in Public Storage by 14.9% during the third quarter. Zions Bancorporation N.A. now owns 278 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 36 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC grew its position in Public Storage by 3.3% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 1,147 shares of the real estate investment trust’s stock valued at $321,000 after acquiring an additional 37 shares during the last quarter. 77.88% of the stock is currently owned by institutional investors.

Public Storage Stock Performance

Shares of PSA stock opened at $286.69 on Monday. The stock has a fifty day moving average of $293.67 and a 200 day moving average of $293.51. Public Storage has a 52 week low of $270.13 and a 52 week high of $357.13. The firm has a market capitalization of $50.40 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 3.75 and a beta of 0.45. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.19.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Wednesday, June 14th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, June 13th. Public Storage’s payout ratio is 51.04%.

Analysts Set New Price Targets

A number of research analysts have commented on PSA shares. Bank of America began coverage on shares of Public Storage in a research report on Monday, May 8th. They set a “buy” rating on the stock. StockNews.com began coverage on shares of Public Storage in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $351.75.

About Public Storage

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Public Storage operates as a real estate investment trust, which engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, and Other Items. The Self-storage Operations segment reflects the rental operations from all self-storage facilities.