Public Storage (NYSE:PSA) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its stake in Public Storage (NYSE:PSA - Free Report) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 483,735 shares of the real estate investment trust's stock after acquiring an additional 3,596 shares during the period. Alliancebernstein L.P. owned 0.28% of Public Storage worth $144,850,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PSA. Doliver Advisors LP raised its stake in shares of Public Storage by 2.6% in the 4th quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust's stock valued at $433,000 after purchasing an additional 36 shares in the last quarter. Brooklyn Investment Group raised its stake in Public Storage by 3.4% during the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock valued at $345,000 after buying an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its holdings in Public Storage by 1.7% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock worth $681,000 after buying an additional 38 shares during the last quarter. Continuum Advisory LLC grew its position in shares of Public Storage by 7.6% in the 3rd quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust's stock worth $182,000 after acquiring an additional 39 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in shares of Public Storage by 2.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,695 shares of the real estate investment trust's stock valued at $617,000 after acquiring an additional 39 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada decreased their price objective on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and lifted their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Scotiabank dropped their price objective on shares of Public Storage from $338.00 to $333.00 and set a "sector perform" rating on the stock in a research note on Wednesday, March 5th. Truist Financial decreased their target price on Public Storage from $316.00 to $310.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. Finally, Barclays reiterated 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. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $338.73.

Public Storage Stock Performance

Public Storage stock traded down $10.74 during mid-day trading on Friday, hitting $284.00. 1,407,016 shares of the company's stock traded hands, compared to its average volume of 716,767. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a one year low of $256.31 and a one year high of $369.99. The firm has a 50 day moving average price of $300.21 and a 200 day moving average price of $318.59. The company has a market cap of $49.82 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73.

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 issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's 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.