Stratos Wealth Partners LTD. trimmed its stake in Public Storage (NYSE:PSA – Free Report) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,786 shares of the real estate investment trust’s stock after selling 120 shares during the period. Stratos Wealth Partners LTD.’s holdings in Public Storage were worth $540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in PSA. Destiny Wealth Partners LLC raised its holdings in shares of Public Storage by 187.5% in the 4th quarter. Destiny Wealth Partners LLC now owns 92 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Hollencrest Capital Management bought a new stake in shares of Public Storage in the 4th quarter valued at about $28,000. GPS Wealth Strategies Group LLC bought a new stake in shares of Public Storage in the 1st quarter valued at about $29,000. ICA Group Wealth Management LLC bought a new stake in shares of Public Storage in the 4th quarter valued at about $29,000. Finally, Armstrong Advisory Group Inc. bought a new stake in shares of Public Storage in the 4th quarter valued at about $33,000. 79.05% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently commented on PSA. StockNews.com began coverage on shares of Public Storage in a report on Thursday, May 18th. They issued a “hold” rating for the company. JPMorgan Chase & Co. reduced their price objective on shares of Public Storage from $338.00 to $324.00 in a research note on Tuesday, June 13th. Truist Financial reduced their price objective on shares of Public Storage from $335.00 to $320.00 in a research note on Thursday, June 15th. Finally, Bank of America assumed coverage on shares of Public Storage in a research note on Monday, May 8th. They set a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Hold” and a consensus target price of $334.86.
Public Storage Stock Down 0.5 %
Public Storage Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Wednesday, June 14th were given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Tuesday, June 13th. Public Storage’s dividend payout ratio is presently 51.04%.
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 March 31, 2023, we had: (i) interests in 2,877 self-storage facilities located in 40 states with approximately 205 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.
Featured Stories
- Five stocks we like better than Public Storage
- J.B. Hunt Transportation Services Could Hit New Highs By Year End
- Profits Decline At Goldman Sachs, Time To Pick Up Cheap Shares?
- The Squeeze Is On For Carvana Stock Prices
- Acumen Soars on Alzheimer’s Study…Street Sees It Doubling
- Live Nation Shares Rock Out Ahead of Q2 Earnings
Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA – Free Report).
Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.
