Public Storage (NYSE:PSA) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its position in Public Storage (NYSE:PSA) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,911,643 shares of the real estate investment trust’s stock after selling 192,109 shares during the period. Price T Rowe Associates Inc. MD owned approximately 3.38% of Public Storage worth $1,770,186,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Quent Capital LLC increased its holdings in Public Storage by 135.1% in the 4th 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 during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Public Storage in the fourth quarter worth $32,000. Synergy Asset Management LLC purchased a new position in shares of Public Storage during the fourth quarter worth $38,000. Millstone Evans Group LLC acquired a new position in Public Storage during the fourth quarter valued at $38,000. Finally, Bridge Generations Wealth Management LLC purchased a new stake in Public Storage in the fourth quarter valued at $56,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Trading Up 3.1 %

PSA opened at $296.57 on Wednesday. The firm has a market capitalization of $52.02 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. The company’s 50 day simple moving average is $295.58 and its two-hundred day simple moving average is $310.80. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders 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 yield of 4.05%. The ex-dividend date was Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is currently 112.89%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Royal Bank of Canada reduced their price objective on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and boosted their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Scotiabank raised shares of Public Storage from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the company from $333.00 to $305.00 in a report on Wednesday, April 9th. Finally, Bank of America upgraded Public Storage from a “neutral” rating to a “buy” rating and raised their target price for the company from $349.00 to $368.00 in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target 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.