Capital World Investors Has $321.58 Million Stock Position in Public Storage (NYSE:PSA)

Capital World Investors decreased its stake in Public Storage (NYSE:PSA - Free Report) by 14.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,073,948 shares of the real estate investment trust's stock after selling 175,731 shares during the period. Capital World Investors owned 0.61% of Public Storage worth $321,583,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Quent Capital LLC raised its holdings in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 50 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Public Storage in the 4th quarter worth approximately $32,000. Synergy Asset Management LLC acquired a new position in Public Storage during the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC bought a new position in shares of Public Storage in the fourth quarter valued at approximately $38,000. Finally, Bridge Generations Wealth Management LLC acquired a new stake in shares of Public Storage in the fourth quarter worth $56,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America upgraded shares of Public Storage from a "neutral" rating to a "buy" rating and raised their price target for the stock from $349.00 to $368.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and boosted their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Barclays reiterated an "overweight" rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Mizuho assumed coverage on Public Storage in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 target price for the company. Finally, Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target on the stock in a research note on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $336.25.

Public Storage Stock Down 1.0 %

Shares of Public Storage stock traded down $2.94 during trading on Friday, reaching $290.85. The stock had a trading volume of 909,820 shares, compared to its average volume of 737,377. The stock has a fifty day moving average price of $295.45 and a two-hundred day moving average price of $310.32. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a market capitalization of $51.02 billion, a price-to-earnings ratio of 30.20, a P/E/G ratio of 4.91 and a beta of 0.76. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 4.13%. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

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.