Stifel Financial Corp Has $18.87 Million Holdings in Public Storage (NYSE:PSA)

Stifel Financial Corp lifted its holdings in shares of Public Storage (NYSE:PSAFree Report) by 9.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,847 shares of the real estate investment trust’s stock after buying an additional 5,299 shares during the period. Stifel Financial Corp’s holdings in Public Storage were worth $18,868,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PSA. EverSource Wealth Advisors LLC boosted its stake in shares of Public Storage by 107.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 44 shares during the last quarter. EdgeRock Capital LLC acquired a new position in shares of Public Storage during the 4th quarter worth about $32,000. Private Ocean LLC boosted its stake in shares of Public Storage by 5,450.0% during the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 109 shares during the last quarter. Centerpoint Advisors LLC bought a new stake in shares of Public Storage in the 4th quarter valued at about $35,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Public Storage in the 4th quarter valued at about $35,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Read Our Latest Analysis on PSA

Insider Buying and Selling at Public Storage

In related news, Director Kristy Pipes bought 2,149 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 11.10% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $273.83 on Monday. Public Storage has a 1 year low of $233.18 and a 1 year high of $312.25. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $48.12 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 3.82 and a beta of 0.63. The firm’s 50 day simple moving average is $273.83 and its 200 day simple moving average is $280.14.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be given a $3.00 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.38%. Public Storage’s dividend payout ratio is currently 108.99%.

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 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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