Public Storage (NYSE:PSA) is Lasalle Investment Management Securities LLC's 4th Largest Position

Lasalle Investment Management Securities LLC cut its position in shares of Public Storage (NYSE:PSA - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 439,589 shares of the real estate investment trust's stock after selling 37,079 shares during the period. Public Storage makes up 5.6% of Lasalle Investment Management Securities LLC's portfolio, making the stock its 4th largest holding. Lasalle Investment Management Securities LLC owned about 0.25% of Public Storage worth $131,631,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PSA. Quent Capital LLC boosted its position in Public Storage by 135.1% in the 4th 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 during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Public Storage in the fourth quarter valued at approximately $32,000. Synergy Asset Management LLC bought a new position in Public Storage in the fourth quarter worth approximately $38,000. Millstone Evans Group LLC purchased a new position in Public Storage during the 4th quarter worth $38,000. Finally, Bridge Generations Wealth Management LLC bought a new stake in Public Storage during the 4th quarter valued at $56,000. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PSA shares. Barclays restated an "overweight" rating and set a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Bank of America upgraded shares of Public Storage from a "neutral" rating to a "buy" rating and boosted their price target for the company from $349.00 to $368.00 in a report on Tuesday. Royal Bank of Canada dropped their price objective on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a research note on Thursday, April 10th. Finally, Scotiabank raised Public Storage from a "sector perform" rating to a "sector outperform" rating and dropped their target price for the company from $333.00 to $305.00 in a research report on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $336.25.

Public Storage Stock Down 0.5 %

Public Storage stock traded down $1.44 during midday trading on Wednesday, reaching $295.23. The company's stock had a trading volume of 709,649 shares, compared to its average volume of 736,724. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The stock has a market capitalization of $51.79 billion, a P/E ratio of 30.66, a PEG ratio of 4.91 and a beta of 0.76. 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 stock's 50-day simple moving average is $295.58 and its 200-day simple moving average is $310.80.

Public Storage Announces Dividend

The business 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 annualized dividend and a yield of 4.06%. The ex-dividend date was Thursday, March 13th. Public Storage's dividend payout ratio 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.