Holocene Advisors LP Sells 4,034 Shares of Public Storage (NYSE:PSA)

Holocene Advisors LP lowered its position in Public Storage (NYSE:PSA - Free Report) by 22.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,965 shares of the real estate investment trust's stock after selling 4,034 shares during the period. Holocene Advisors LP's holdings in Public Storage were worth $5,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its holdings in Public Storage by 20.9% during the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust's stock worth $1,828,763,000 after buying an additional 869,066 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Public Storage by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust's stock worth $1,023,080,000 after purchasing an additional 54,992 shares in the last quarter. APG Asset Management US Inc. increased its stake in shares of Public Storage by 4.8% in the second quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust's stock worth $623,485,000 after purchasing an additional 100,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Public Storage by 732.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust's stock worth $561,763,000 after purchasing an additional 1,358,493 shares in the last quarter. Finally, Adelante Capital Management LLC increased its stake in shares of Public Storage by 389.9% in the third quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust's stock worth $532,465,000 after purchasing an additional 1,164,630 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PSA shares. Evercore ISI reduced their target price on shares of Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a research note on Monday, October 14th. Truist Financial raised their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research report on Thursday. Royal Bank of Canada cut their price objective on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Scotiabank raised their price objective on shares of Public Storage from $308.00 to $339.00 and gave the company a "sector perform" rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company dropped their target price on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $342.07.

Public Storage Trading Down 0.6 %

Public Storage stock traded down $2.17 during mid-day trading on Thursday, reaching $332.44. 568,689 shares of the company traded hands, compared to its average volume of 712,186. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The firm's 50 day moving average price is $341.32 and its 200 day moving average price is $320.35. The firm has a market capitalization of $58.21 billion, a price-to-earnings ratio of 34.60, a P/E/G ratio of 5.59 and a beta of 0.71. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage's dividend payout ratio (DPR) is presently 124.61%.

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.