Haverford Trust Co Buys 30 Shares of Public Storage (NYSE:PSA)

Haverford Trust Co lifted its stake in Public Storage (NYSE:PSA) by 0.7% during the third quarter, HoldingsChannel reports. The firm owned 4,282 shares of the real estate investment trust’s stock after purchasing an additional 30 shares during the period. Haverford Trust Co’s holdings in Public Storage were worth $1,558,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Public Storage in the second quarter worth about $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Public Storage during the second quarter valued at about $36,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Storage during the third quarter valued at about $38,000. Crewe Advisors LLC purchased a new stake in shares of Public Storage during the first quarter valued at about $39,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Public Storage in the 2nd quarter valued at approximately $39,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Up 1.4 %

Shares of PSA stock opened at $334.94 on Thursday. The stock’s fifty day moving average is $346.58 and its two-hundred day moving average is $313.10. 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 $58.65 billion, a P/E ratio of 34.78, a PEG ratio of 4.66 and a beta of 0.70. Public Storage has a fifty-two week low of $250.51 and a fifty-two week high of $369.99.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued 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 yield of 3.58%. Public Storage’s payout ratio is currently 124.61%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays decreased their price objective on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research report on Tuesday. Jefferies Financial Group increased their price target on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Evercore ISI cut their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a report on Thursday, August 1st. Finally, Scotiabank raised their price objective on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $339.64.

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.