OneDigital Investment Advisors LLC Sells 298 Shares of Public Storage (NYSE:PSA)

OneDigital Investment Advisors LLC lowered its holdings in shares of Public Storage (NYSE:PSA) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,472 shares of the real estate investment trust’s stock after selling 298 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Public Storage were worth $441,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in PSA. Quent Capital LLC lifted its holdings 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 worth $26,000 after buying an additional 50 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Public Storage in the 4th quarter worth $32,000. Synergy Asset Management LLC bought a new position in shares of Public Storage during the 4th quarter valued at about $38,000. Millstone Evans Group LLC purchased a new position in shares of Public Storage during the fourth quarter valued at about $38,000. Finally, Bridge Generations Wealth Management LLC bought a new stake in shares of Public Storage in the fourth quarter worth about $56,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

NYSE PSA opened at $295.75 on Friday. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The firm’s fifty day simple moving average is $295.93 and its two-hundred day simple moving average is $311.89. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $51.88 billion, a P/E ratio of 30.71, a P/E/G ratio of 4.91 and a beta of 0.76.

Public Storage Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PSA shares. Wells Fargo & Company lowered their price objective on shares of 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 reaffirmed 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. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and boosted their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Truist Financial upgraded Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price target for the company in a report on Thursday, April 10th. Finally, Royal Bank of Canada reduced their price objective on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average 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.