MML Investors Services LLC Buys 603 Shares of Public Storage (NYSE:PSA)

MML Investors Services LLC increased its stake in shares of Public Storage (NYSE:PSA) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,196 shares of the real estate investment trust’s stock after buying an additional 603 shares during the quarter. MML Investors Services LLC’s holdings in Public Storage were worth $6,347,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Quent Capital LLC raised 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 acquiring an additional 50 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Public Storage during the 4th quarter valued at $32,000. Synergy Asset Management LLC bought a new position in Public Storage in the 4th quarter valued at $38,000. Millstone Evans Group LLC acquired a new position in Public Storage in the fourth quarter worth $38,000. Finally, Bridge Generations Wealth Management LLC bought a new stake in shares of Public Storage during the fourth quarter worth $56,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Down 0.5 %

Shares of NYSE PSA opened at $293.77 on Friday. The firm has a 50 day moving average price of $295.45 and a 200 day moving average price of $310.32. 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 stock has a market cap of $51.53 billion, a P/E ratio of 30.51, a P/E/G ratio of 4.91 and a beta of 0.76. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s payout ratio is presently 112.89%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Scotiabank raised shares of Public Storage from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the stock from $333.00 to $305.00 in a report on Wednesday, April 9th. Barclays reissued an “overweight” rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. 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. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Mizuho assumed coverage on Public Storage in a research note on Wednesday, April 9th. They set a “neutral” rating and a $287.00 price target on the stock. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $336.25.

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.