Johnson Financial Group Inc. raised its position in Public Storage (NYSE:PSA - Free Report) by 24.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,970 shares of the real estate investment trust's stock after buying an additional 1,558 shares during the period. Johnson Financial Group Inc.'s holdings in Public Storage were worth $2,379,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC increased its holdings in Public Storage by 135.1% in 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 purchased a new stake in shares of Public Storage during the fourth quarter worth about $32,000. Synergy Asset Management LLC purchased a new stake in shares of Public Storage during the fourth quarter worth about $38,000. Millstone Evans Group LLC purchased a new stake in shares of Public Storage during the fourth quarter worth about $38,000. Finally, Bridge Generations Wealth Management LLC purchased a new stake in shares of Public Storage during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 78.79% of the company's stock.
Public Storage Trading Up 0.3 %
NYSE:PSA traded up $0.85 on Monday, hitting $291.76. The stock had a trading volume of 844,133 shares, compared to its average volume of 738,999. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market cap of $51.18 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 4.91 and a beta of 0.76. The company has a fifty day moving average price of $295.22 and a two-hundred day moving average price of $309.08. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99.
Public Storage Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a $3.00 dividend. The ex-dividend date was Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.11%. Public Storage's dividend payout ratio is currently 112.89%.
Analysts Set New Price Targets
A number of analysts have recently commented on PSA shares. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and boosted their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Barclays reissued an "overweight" rating and set a $354.00 target price (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. 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 research note on Thursday, April 10th. Royal Bank of Canada cut their target price on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Finally, Scotiabank upgraded shares of 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, April 9th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $336.25.
Check Out Our Latest Report on Public Storage
About Public Storage
(
Free Report)
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.
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