Massachusetts Financial Services Co. MA Sells 43,811 Shares of Public Storage (NYSE:PSA)

Massachusetts Financial Services Co. MA cut its holdings in Public Storage (NYSE:PSA - Free Report) by 4.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 921,439 shares of the real estate investment trust's stock after selling 43,811 shares during the period. Massachusetts Financial Services Co. MA owned 0.53% of Public Storage worth $275,916,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Public Storage by 5.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust's stock valued at $16,089,000 after buying an additional 2,566 shares during the period. Capital Investment Advisors LLC increased its position in shares of Public Storage by 25.4% during the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust's stock worth $8,566,000 after acquiring an additional 5,793 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Public Storage by 30.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust's stock worth $40,926,000 after purchasing an additional 31,662 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Public Storage in the fourth quarter worth $395,000. Finally, Aew Capital Management L P boosted its stake in Public Storage by 108.6% during the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust's stock valued at $131,574,000 after acquiring an additional 228,740 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Remove Ads

Public Storage Stock Up 6.0 %

NYSE PSA traded up $16.04 during trading on Wednesday, hitting $282.35. 1,789,415 shares of the company traded hands, compared to its average volume of 729,681. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. 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 business has a fifty day simple moving average of $297.78 and a 200 day simple moving average of $315.04. The company has a market capitalization of $49.53 billion, a P/E ratio of 29.32, a PEG ratio of 4.91 and a beta of 0.76.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a $3.00 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.25%. Public Storage's payout ratio is presently 112.89%.

Analyst Ratings Changes

A number of research analysts have commented on PSA shares. Royal Bank of Canada reduced their target price on Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Truist Financial decreased their price target on Public Storage from $316.00 to $310.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. Mizuho initiated coverage on shares of Public Storage in a research note on Wednesday. They issued a "neutral" rating and a $287.00 price target for the company. Barclays reaffirmed an "overweight" rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and boosted their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $332.08.

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.