Massachusetts Financial Services Co. MA Sells 23,619 Shares of Public Storage (NYSE:PSA)

Massachusetts Financial Services Co. MA cut its position in Public Storage (NYSE:PSA - Free Report) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 965,250 shares of the real estate investment trust's stock after selling 23,619 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.55% of Public Storage worth $351,226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PSA. Lake Street Advisors Group LLC acquired a new stake in shares of Public Storage in the first quarter valued at about $248,000. Pitcairn Co. increased its stake in shares of Public Storage by 15.9% in the first quarter. Pitcairn Co. now owns 868 shares of the real estate investment trust's stock valued at $252,000 after buying an additional 119 shares during the period. MQS Management LLC acquired a new stake in shares of Public Storage in the first quarter valued at about $238,000. CreativeOne Wealth LLC increased its stake in shares of Public Storage by 15.8% in the first quarter. CreativeOne Wealth LLC now owns 895 shares of the real estate investment trust's stock valued at $260,000 after buying an additional 122 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in shares of Public Storage by 18.1% in the first quarter. EP Wealth Advisors LLC now owns 2,281 shares of the real estate investment trust's stock valued at $662,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada decreased their price target on Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research note on Friday, November 8th. Truist Financial downgraded Public Storage from a "buy" rating to a "hold" rating and set a $306.00 target price for the company. in a report on Thursday, August 1st. Evercore ISI lowered their target price on Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a report on Monday, October 14th. Scotiabank lifted their target price on Public Storage from $308.00 to $339.00 and gave the stock a "sector perform" rating in a report on Thursday, August 22nd. Finally, Citigroup lifted their target price on Public Storage from $303.00 to $378.00 and gave the stock a "buy" rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Public Storage has a consensus rating of "Moderate Buy" and a consensus target price of $339.64.

Public Storage Stock Up 0.5 %

Public Storage stock traded up $1.77 during trading on Friday, hitting $337.62. 508,834 shares of the company were exchanged, compared to its average volume of 713,357. The business's 50 day moving average is $343.82 and its 200 day moving average is $316.39. Public Storage has a 52 week low of $251.49 and a 52 week high of $369.99. The company has a market capitalization of $59.12 billion, a P/E ratio of 35.06, a PEG ratio of 5.56 and a beta of 0.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.55%. Public Storage's dividend payout ratio (DPR) is currently 124.61%.

Public Storage 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.