Transamerica Financial Advisors Inc. Sells 116 Shares of Public Storage (NYSE:PSA)

Transamerica Financial Advisors Inc. reduced its holdings in shares of Public Storage (NYSE:PSA) by 12.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 813 shares of the real estate investment trust’s stock after selling 116 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Public Storage were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PSA. SVB Wealth LLC boosted its holdings in Public Storage by 17.8% during the first quarter. SVB Wealth LLC now owns 946 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 143 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Public Storage during the first quarter worth about $770,000. B. Riley Wealth Advisors Inc. boosted its stake in Public Storage by 19.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,639 shares of the real estate investment trust’s stock valued at $765,000 after acquiring an additional 421 shares during the last quarter. Plato Investment Management Ltd boosted its stake in Public Storage by 413.7% in the first quarter. Plato Investment Management Ltd now owns 6,128 shares of the real estate investment trust’s stock valued at $1,777,000 after acquiring an additional 4,935 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in Public Storage in the first quarter valued at about $42,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PSA. Evercore ISI dropped their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Scotiabank boosted their target price on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Morgan Stanley boosted their target price on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Barclays lowered their price target on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $339.64.

Public Storage Price Performance

Shares of Public Storage stock opened at $350.04 on Wednesday. Public Storage has a 52-week low of $252.96 and a 52-week high of $369.99. The stock has a market capitalization of $61.30 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 5.78 and a beta of 0.70. The company has a fifty day moving average of $343.37 and a 200-day moving average of $318.06. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Dividend Announcement

The firm 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 $3.00 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.43%. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Public Storage Company 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.