Public Storage (NYSE:PSA) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC decreased its stake in shares of Public Storage (NYSE:PSA - Free Report) by 16.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,214 shares of the real estate investment trust's stock after selling 1,982 shares during the period. Mizuho Securities USA LLC's holdings in Public Storage were worth $3,717,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC acquired a new position in Public Storage in the third quarter worth $38,000. OFI Invest Asset Management acquired a new position in Public Storage in the second quarter worth $32,000. Opal Wealth Advisors LLC bought a new stake in Public Storage during the second quarter valued at $36,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Public Storage during the second quarter worth $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of Public Storage stock traded up $1.77 on Friday, hitting $337.62. The company had a trading volume of 508,834 shares, compared to its average volume of 713,357. Public Storage has a 52 week low of $251.49 and a 52 week high of $369.99. 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 company has a market cap of $59.12 billion, a PE ratio of 35.06, a PEG ratio of 5.56 and a beta of 0.70. The business has a 50-day simple moving average of $343.82 and a 200-day simple moving average of $316.39.

Public Storage Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PSA shares. Royal Bank of Canada decreased their price target on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. Scotiabank upped their target price on Public Storage from $308.00 to $339.00 and gave the company a "sector perform" rating in a report on Thursday, August 22nd. Barclays cut their price target on Public Storage from $381.00 to $380.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. Evercore ISI lowered their price objective on 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. Finally, Citigroup raised their target price on Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $339.64.

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.