Public Storage (NYSE:PSA) Shares Sold by Fmr LLC

Fmr LLC lessened its holdings in shares of Public Storage (NYSE:PSA) by 14.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,300,593 shares of the real estate investment trust’s stock after selling 725,276 shares during the quarter. Fmr LLC owned approximately 2.46% of Public Storage worth $1,287,770,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd increased its stake in shares of Public Storage by 245.8% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,850 shares of the real estate investment trust’s stock valued at $554,000 after acquiring an additional 1,315 shares during the last quarter. Russell Investments Group Ltd. increased its position in Public Storage by 25.5% during the fourth quarter. Russell Investments Group Ltd. now owns 999,426 shares of the real estate investment trust’s stock worth $299,006,000 after purchasing an additional 202,944 shares during the last quarter. Wedbush Securities Inc. raised its stake in Public Storage by 12.4% during the fourth quarter. Wedbush Securities Inc. now owns 1,428 shares of the real estate investment trust’s stock worth $428,000 after purchasing an additional 157 shares during the period. Aviva PLC boosted its holdings in shares of Public Storage by 35.9% in the 4th quarter. Aviva PLC now owns 94,945 shares of the real estate investment trust’s stock valued at $28,430,000 after purchasing an additional 25,094 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of Public Storage during the 4th quarter valued at $26,161,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PSA shares. Wells Fargo & Company lowered their price target 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. Barclays reaffirmed an “overweight” rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Truist Financial cut their target price on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Scotiabank decreased their price target on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada cut 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. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $338.73.

Public Storage Trading Down 3.6 %

Shares of PSA stock opened at $284.00 on Monday. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The firm has a market capitalization of $49.82 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. The stock has a fifty day moving average of $300.05 and a two-hundred day moving average of $317.46. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

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.