Trust Co. of Vermont Has $342,000 Stake in Public Storage (NYSE:PSA)

Posted by Defense World Staff on Jun 21st, 2023

Trust Co. of Vermont lifted its holdings in shares of Public Storage (NYSE:PSA – Get Rating) by 15.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,133 shares of the real estate investment trust’s stock after purchasing an additional 150 shares during the quarter. Trust Co. of Vermont’s holdings in Public Storage were worth $342,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Natixis Advisors L.P. boosted its holdings in shares of Public Storage by 12.3% in the fourth quarter. Natixis Advisors L.P. now owns 52,543 shares of the real estate investment trust’s stock valued at $14,722,000 after buying an additional 5,740 shares during the period. Hollencrest Capital Management bought a new position in Public Storage during the 4th quarter worth about $28,000. Gallacher Capital Management LLC acquired a new stake in shares of Public Storage in the 4th quarter valued at about $306,000. Wells Fargo & Company MN lifted its holdings in shares of Public Storage by 22.5% in the fourth quarter. Wells Fargo & Company MN now owns 324,205 shares of the real estate investment trust’s stock valued at $90,839,000 after purchasing an additional 59,482 shares in the last quarter. Finally, National Pension Service boosted its position in shares of Public Storage by 3.7% during the third quarter. National Pension Service now owns 263,654 shares of the real estate investment trust’s stock worth $75,798,000 after buying an additional 9,289 shares during the period. Institutional investors own 79.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PSA. StockNews.com initiated coverage on Public Storage in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Truist Financial decreased their target price on shares of Public Storage from $335.00 to $320.00 in a research report on Thursday, June 15th. Bank of America initiated coverage on shares of Public Storage in a research report on Monday, May 8th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on Public Storage from $338.00 to $324.00 in a report on Tuesday, June 13th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Hold” and a consensus price target of $341.44.

Public Storage Trading Down 0.7 %

Public Storage stock opened at $285.02 on Wednesday. The stock has a 50-day simple moving average of $289.58 and a 200 day simple moving average of $292.50. The stock has a market capitalization of $50.11 billion, a P/E ratio of 12.12, a PEG ratio of 3.76 and a beta of 0.45. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.48 and a current ratio of 1.48. Public Storage has a 52 week low of $270.13 and a 52 week high of $357.13.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Wednesday, June 14th 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 4.21%. The ex-dividend date of this dividend is Tuesday, June 13th. Public Storage’s dividend payout ratio is presently 51.04%.

About Public Storage

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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, 2022, we had: (i) interests in 2,869 self-storage facilities located in 40 states with approximately 204 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 266 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.