Public Storage (NYSE:PSA) Shares Sold by Capital International Investors

Capital International Investors trimmed its position in Public Storage (NYSE:PSA - Free Report) by 43.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,184,434 shares of the real estate investment trust's stock after selling 916,547 shares during the quarter. Capital International Investors owned about 0.68% of Public Storage worth $354,665,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC lifted its stake in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 50 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Public Storage in the fourth quarter valued at $32,000. Synergy Asset Management LLC acquired a new stake in Public Storage during the 4th quarter worth about $38,000. Millstone Evans Group LLC purchased a new position in shares of Public Storage during the 4th quarter valued at about $38,000. Finally, Toth Financial Advisory Corp lifted its holdings in shares of Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock valued at $61,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Price Performance

Shares of PSA traded up $0.48 during trading hours on Thursday, hitting $295.71. 207,078 shares of the stock were exchanged, compared to its average volume of 734,671. The stock's 50-day moving average price is $295.53 and its two-hundred day moving average price is $310.69. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $51.87 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76.

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 given a dividend of $3.00 per share. The ex-dividend date was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.06%. Public Storage's payout ratio is presently 112.89%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Mizuho began coverage on Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price target for the company. Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a report on Thursday, April 10th. Bank of America upgraded shares of Public Storage from a "neutral" rating to a "buy" rating and raised their price target for the company from $349.00 to $368.00 in a research report on Tuesday. Scotiabank raised shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and lowered their target price for the stock from $333.00 to $305.00 in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company reduced 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. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $336.25.

Public Storage 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.