Seven Post Investment Office LP Has $10.48 Million Stake in Public Storage (NYSE:PSA)

Seven Post Investment Office LP raised its stake in shares of Public Storage (NYSE:PSA) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 28,792 shares of the real estate investment trust’s stock after purchasing an additional 238 shares during the quarter. Public Storage accounts for about 1.6% of Seven Post Investment Office LP’s investment portfolio, making the stock its 14th biggest position. Seven Post Investment Office LP’s holdings in Public Storage were worth $10,476,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Deseret Mutual Benefit Administrators increased its stake in Public Storage by 39.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 206 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 58 shares during the period. Principal Financial Group Inc. lifted its position in shares of Public Storage by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 214,382 shares of the real estate investment trust’s stock worth $78,007,000 after acquiring an additional 3,973 shares during the period. Montecito Bank & Trust grew its holdings in shares of Public Storage by 32.4% during the 3rd quarter. Montecito Bank & Trust now owns 3,148 shares of the real estate investment trust’s stock worth $1,145,000 after purchasing an additional 770 shares in the last quarter. Ironsides Asset Advisors LLC bought a new stake in shares of Public Storage during the third quarter valued at approximately $237,000. Finally, Graypoint LLC acquired a new position in shares of Public Storage in the third quarter valued at $253,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of analyst reports. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target for the company. in a research note on Monday, August 5th. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Morgan Stanley upped their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Scotiabank lifted their price objective on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Finally, Truist Financial lowered shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average price target of $340.71.

Public Storage Stock Performance

PSA opened at $333.09 on Friday. The business’s 50-day simple moving average is $347.20 and its 200 day simple moving average is $310.65. Public Storage has a 52-week low of $241.60 and a 52-week high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $58.30 billion, a PE ratio of 34.59, a PEG ratio of 4.69 and a beta of 0.70.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th 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 3.60%. The ex-dividend date is Friday, December 13th. Public Storage’s dividend payout ratio is currently 124.61%.

Public Storage Profile

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.