AE Wealth Management LLC Purchases 4,858 Shares of Public Storage (NYSE:PSA)

Posted by Defense World Staff on Sep 21st, 2023

AE Wealth Management LLC increased its position in shares of Public Storage (NYSE:PSA – Free Report) by 42.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,189 shares of the real estate investment trust’s stock after purchasing an additional 4,858 shares during the period. AE Wealth Management LLC’s holdings in Public Storage were worth $4,725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Arbor Capital Management Inc. ADV boosted its stake in Public Storage by 0.9% in the 4th quarter. Arbor Capital Management Inc. ADV now owns 4,159 shares of the real estate investment trust’s stock valued at $1,129,000 after buying an additional 36 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in Public Storage by 2.3% in the 1st quarter. Gryphon Financial Partners LLC now owns 1,627 shares of the real estate investment trust’s stock valued at $492,000 after buying an additional 36 shares in the last quarter. Kinneret Advisory LLC boosted its stake in Public Storage by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 1,678 shares of the real estate investment trust’s stock valued at $655,000 after buying an additional 37 shares in the last quarter. Flputnam Investment Management Co. boosted its stake in Public Storage by 4.6% in the 1st quarter. Flputnam Investment Management Co. now owns 859 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 38 shares in the last quarter. Finally, Windham Capital Management LLC boosted its stake in Public Storage by 4.6% in the 1st quarter. Windham Capital Management LLC now owns 856 shares of the real estate investment trust’s stock valued at $259,000 after buying an additional 38 shares in the last quarter. 78.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PSA has been the topic of several recent analyst reports. Truist Financial decreased their price target on Public Storage from $320.00 to $305.00 and set a “buy” rating on the stock in a research note on Tuesday, August 29th. Stifel Nicolaus reduced their price objective on Public Storage from $360.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, September 13th. JPMorgan Chase & Co. reduced their price objective on Public Storage from $338.00 to $324.00 in a research note on Tuesday, June 13th. Finally, StockNews.com began coverage on Public Storage in a research note on Wednesday, August 23rd. They issued a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.75.

View Our Latest Report on PSA

Public Storage Trading Up 0.2 %

PSA stock opened at $270.78 on Thursday. The company has a market cap of $47.61 billion, a P/E ratio of 11.73, a PEG ratio of 3.37 and a beta of 0.46. Public Storage has a twelve month low of $266.01 and a twelve month high of $316.48. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.19. The business has a fifty day moving average of $280.87 and a 200-day moving average of $287.94.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.43%. Public Storage’s payout ratio is currently 51.97%.

Public Storage Company Profile

(Free Report)

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 June 30, 2023, we had: (i) interests in 2,888 self-storage facilities located in 40 states with approximately 206 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.