Centersquare Investment Management LLC Sells 75,339 Shares of Public Storage (NYSE:PSA)

Centersquare Investment Management LLC reduced its stake in Public Storage (NYSE:PSA - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 759,484 shares of the real estate investment trust's stock after selling 75,339 shares during the period. Public Storage makes up 2.4% of Centersquare Investment Management LLC's portfolio, making the stock its 14th largest holding. Centersquare Investment Management LLC owned approximately 0.43% of Public Storage worth $227,420,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Doliver Advisors LP grew its holdings in shares of Public Storage by 2.6% in the fourth 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 grew its stake in shares of Public Storage by 3.4% in the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock worth $345,000 after buying an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management increased its holdings in shares of Public Storage by 1.7% in 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 increased its holdings 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 buying an additional 39 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its position in shares of Public Storage by 2.4% during 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 buying an additional 39 shares in the last quarter. Institutional investors own 78.79% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have weighed in on PSA. Truist Financial reduced their price objective on Public Storage from $316.00 to $310.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and increased their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Scotiabank upgraded Public Storage from a "sector perform" rating to a "sector outperform" rating and lowered their price target for the stock from $333.00 to $305.00 in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Finally, Mizuho began coverage on shares of Public Storage in a report on Wednesday. They issued a "neutral" rating and a $287.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Public Storage has a consensus rating of "Moderate Buy" and a consensus target price of $332.08.

Public Storage Trading Down 0.1 %

Shares of Public Storage stock traded down $0.36 on Wednesday, hitting $265.95. 541,986 shares of the company traded hands, compared to its average volume of 724,334. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market cap of $46.65 billion, a PE ratio of 27.61, a PEG ratio of 4.91 and a beta of 0.76. The stock's 50 day moving average price is $298.41 and its 200-day moving average price is $315.85. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Dividend Announcement

The company also recently announced 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. This represents a $12.00 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

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.