Orion Portfolio Solutions LLC Buys 2,401 Shares of Public Storage (NYSE:PSA)

Orion Portfolio Solutions LLC lifted its position in shares of Public Storage (NYSE:PSAFree Report) by 51.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,106 shares of the real estate investment trust’s stock after acquiring an additional 2,401 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Public Storage were worth $2,133,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSA. Integrated Wealth Concepts LLC boosted its position in shares of Public Storage by 16.1% during the third quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust’s stock worth $2,567,000 after purchasing an additional 1,349 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Public Storage by 8.0% during the third quarter. The Manufacturers Life Insurance Company now owns 123,852 shares of the real estate investment trust’s stock worth $32,638,000 after acquiring an additional 9,223 shares in the last quarter. Raymond James & Associates grew its stake in Public Storage by 4.3% in the fourth quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock valued at $34,917,000 after acquiring an additional 4,695 shares during the period. Ellsworth Advisors LLC grew its stake in Public Storage by 615.7% in the fourth quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust’s stock valued at $6,040,000 after acquiring an additional 17,036 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Public Storage by 8.3% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 163,191 shares of the real estate investment trust’s stock worth $49,773,000 after acquiring an additional 12,574 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Up 1.6 %

Public Storage stock opened at $268.08 on Friday. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $312.25. The firm has a market capitalization of $47.11 billion, a PE ratio of 24.35, a P/E/G ratio of 3.68 and a beta of 0.57. The company’s 50-day moving average is $273.94 and its 200-day moving average is $279.68. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.54.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be paid a dividend of $3.00 per share. The ex-dividend date is Wednesday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.48%. Public Storage’s dividend payout ratio is currently 108.99%.

Wall Street Analyst Weigh In

PSA has been the subject of several research analyst reports. Scotiabank boosted their price objective on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $280.00 to $310.00 in a research report on Friday, April 5th. Barclays cut their price objective on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. BMO Capital Markets upped their target price on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Finally, Raymond James raised Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $304.75.

Get Our Latest Stock Report on PSA

Insider Buying and Selling

In related news, Director Kristy Pipes acquired 2,149 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average cost of $278.96 per share, for a total transaction of $599,485.04. Following the completion of the transaction, the director now directly owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.00% of the stock is owned by insiders.

Public Storage 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 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.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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