United Capital Financial Advisors LLC Has $1.38 Million Stock Holdings in Public Storage (NYSE:PSA)

United Capital Financial Advisors LLC lessened its position in Public Storage (NYSE:PSA) by 10.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,611 shares of the real estate investment trust’s stock after selling 546 shares during the period. United Capital Financial Advisors LLC’s holdings in Public Storage were worth $1,381,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC lifted its stake in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 50 shares in the last quarter. Synergy Asset Management LLC bought a new stake in Public Storage during the 4th quarter worth approximately $38,000. Millstone Evans Group LLC purchased a new stake in shares of Public Storage in the fourth quarter worth approximately $38,000. Toth Financial Advisory Corp boosted its position in shares of Public Storage by 48.2% during the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 66 shares during the last quarter. Finally, McIlrath & Eck LLC grew its holdings in Public Storage by 24.6% during the third quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 43 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Public Storage stock opened at $295.75 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a one year low of $256.31 and a one year high of $369.99. The firm has a market capitalization of $51.88 billion, a P/E ratio of 30.71, a PEG ratio of 4.91 and a beta of 0.76. The business has a fifty day moving average price of $295.93 and a 200-day moving average price of $311.89.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PSA. Truist Financial upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Wells Fargo & Company decreased their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Barclays restated an “overweight” rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada reduced their price target on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $332.08.

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.