Bank of Montreal Can Sells 30,759 Shares of Public Storage (NYSE:PSA)

Bank of Montreal Can trimmed its position in shares of Public Storage (NYSE:PSA - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 165,410 shares of the real estate investment trust's stock after selling 30,759 shares during the period. Bank of Montreal Can owned 0.09% of Public Storage worth $49,530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PSA. Quent Capital LLC grew its position 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 purchasing an additional 50 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in Public Storage in the 4th quarter worth approximately $38,000. Millstone Evans Group LLC purchased a new stake in shares of Public Storage in the fourth quarter worth $38,000. Toth Financial Advisory Corp grew its position in Public Storage by 48.2% during the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock worth $61,000 after buying an additional 66 shares in the last quarter. Finally, McIlrath & Eck LLC grew its holdings in shares of Public Storage by 24.6% during the third quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust's stock worth $79,000 after purchasing an additional 43 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Up 0.4 %

PSA traded up $1.19 on Tuesday, hitting $289.92. The company had a trading volume of 105,947 shares, compared to its average volume of 733,461. The firm has a market capitalization of $50.86 billion, a P/E ratio of 30.11, a P/E/G ratio of 4.91 and a beta of 0.76. The stock has a fifty day simple moving average of $296.81 and a 200-day simple moving average of $313.14. Public Storage has a 52-week low of $256.31 and a 52-week 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.

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Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a $3.00 dividend. The ex-dividend date was Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.14%. Public Storage's payout ratio is 112.89%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PSA. Scotiabank raised Public Storage from a "sector perform" rating to a "sector outperform" rating and decreased their price objective for the company from $333.00 to $305.00 in a report on Wednesday, April 9th. Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a research note on Thursday, April 10th. Mizuho initiated coverage on shares of Public Storage in a research report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and raised their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada lowered their target price 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. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Public Storage has a consensus rating of "Moderate Buy" and an average target price of $332.08.

About Public Storage

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.