Threadgill Financial LLC Has $6.01 Million Stock Holdings in Public Storage (NYSE:PSA)

Threadgill Financial LLC grew its holdings in shares of Public Storage (NYSE:PSA) by 2.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,174 shares of the real estate investment trust’s stock after purchasing an additional 426 shares during the quarter. Public Storage comprises approximately 6.9% of Threadgill Financial LLC’s portfolio, making the stock its 7th biggest holding. Threadgill Financial LLC’s holdings in Public Storage were worth $6,005,000 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. Sunbelt Securities Inc. bought a new position in Public Storage during the first quarter worth about $26,000. GPS Wealth Strategies Group LLC purchased a new stake in Public Storage in the first quarter valued at approximately $29,000. ICA Group Wealth Management LLC purchased a new stake in Public Storage in the fourth quarter valued at approximately $29,000. BerganKDV Wealth Management LLC raised its stake in shares of Public Storage by 4,900.0% during the first quarter. BerganKDV Wealth Management LLC now owns 100 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 98 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new position in shares of Public Storage during the first quarter worth approximately $32,000. Institutional investors own 78.75% of the company’s stock.

Public Storage Trading Up 0.7 %

NYSE:PSA traded up $1.86 during trading hours on Tuesday, hitting $271.74. The company had a trading volume of 188,599 shares, compared to its average volume of 948,829. The company has a market capitalization of $47.78 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 3.42 and a beta of 0.46. The stock has a 50-day moving average price of $282.27 and a 200 day moving average price of $288.52. Public Storage has a 52 week low of $266.01 and a 52 week high of $316.48. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.28 and a quick ratio of 1.28.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Tuesday, September 12th. Public Storage’s dividend payout ratio (DPR) is currently 51.97%.

Analyst Ratings Changes

PSA has been the topic of several research reports. StockNews.com initiated coverage on shares of Public Storage in a research note on Wednesday, August 23rd. They set a “hold” rating on the stock. Truist Financial decreased their price target on shares of Public Storage from $320.00 to $305.00 and set a “buy” rating on the stock in a research note on Tuesday, August 29th. JPMorgan Chase & Co. cut their target price on shares of Public Storage from $338.00 to $324.00 in a report on Tuesday, June 13th. Finally, Stifel Nicolaus cut their target price on shares of Public Storage from $360.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, September 13th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $317.20.

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 June 30, 2023, we had: (i) interests in 2,888 self-storage facilities located in 40 states with approximately 206 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 266 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.