CIBC Private Wealth Group LLC Has $271,000 Stock Holdings in Public Storage (NYSE:PSA)

CIBC Private Wealth Group LLC lowered its position in shares of Public Storage (NYSE:PSA) by 11.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 916 shares of the real estate investment trust’s stock after selling 114 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Public Storage were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSA. Doliver Advisors LP raised its stake in shares of Public Storage by 2.6% in the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust’s stock valued at $433,000 after acquiring an additional 36 shares during the last quarter. Brooklyn Investment Group raised its position in Public Storage by 3.4% in the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock valued at $345,000 after purchasing an additional 38 shares during the last quarter. Werba Rubin Papier Wealth Management boosted its stake in Public Storage by 1.7% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock worth $681,000 after purchasing an additional 38 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of Public Storage by 7.6% during the third quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 39 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Public Storage by 2.4% during the third quarter. TD Private Client Wealth LLC now owns 1,695 shares of the real estate investment trust’s stock worth $617,000 after purchasing an additional 39 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PSA shares. Scotiabank reduced their price target on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. 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 report on Wednesday, March 12th. Royal Bank of Canada decreased their price objective on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their target price 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. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $338.73.

Public Storage Price Performance

Shares of PSA opened at $284.00 on Friday. The stock has a market cap of $49.82 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The stock’s 50-day moving average price is $300.05 and its two-hundred day moving average price is $317.76. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date was Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

About Public Storage

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.