Duff & Phelps Investment Management Co. Sells 13,940 Shares of Public Storage (NYSE:PSA)

Duff & Phelps Investment Management Co. trimmed its holdings in Public Storage (NYSE:PSA - Free Report) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541,260 shares of the real estate investment trust's stock after selling 13,940 shares during the quarter. Public Storage comprises 1.9% of Duff & Phelps Investment Management Co.'s portfolio, making the stock its 9th largest holding. Duff & Phelps Investment Management Co. owned about 0.31% of Public Storage worth $162,075,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quent Capital LLC grew its stake 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 worth $26,000 after purchasing an additional 50 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in Public Storage in the fourth quarter worth about $38,000. Millstone Evans Group LLC acquired a new stake in Public Storage in the fourth quarter worth about $38,000. Toth Financial Advisory Corp grew its position in 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 in the last quarter. Finally, McIlrath & Eck LLC increased its stake in Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust's stock valued at $79,000 after buying an additional 43 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

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Public Storage Trading Up 1.7 %

PSA traded up $5.13 during trading on Monday, reaching $299.50. The company had a trading volume of 445,211 shares, compared to its average volume of 708,521. The firm's 50-day simple moving average is $299.91 and its 200 day simple moving average is $319.75. 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 $52.54 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 4.91 and a beta of 0.73. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is currently 112.89%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PSA shares. Wells Fargo & Company reduced their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Royal Bank of Canada cut their target price on Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Scotiabank lowered their price target on Public Storage from $338.00 to $333.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 5th. Barclays restated an "overweight" rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Finally, Truist Financial lowered their target price on Public Storage from $316.00 to $310.00 and set a "hold" rating on the stock in a report on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $338.73.

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.