Pacer Advisors Inc. Sells 13,476 Shares of Public Storage (NYSE:PSA)

Pacer Advisors Inc. trimmed its stake in shares of Public Storage (NYSE:PSA - Free Report) by 11.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,973 shares of the real estate investment trust's stock after selling 13,476 shares during the quarter. Pacer Advisors Inc. owned about 0.06% of Public Storage worth $37,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PSA. Pitcairn Co. grew its holdings in Public Storage by 15.9% during the 1st 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 last quarter. CreativeOne Wealth LLC increased its position in shares of Public Storage by 15.8% during the first quarter. CreativeOne Wealth LLC now owns 895 shares of the real estate investment trust's stock worth $260,000 after acquiring an additional 122 shares during the last quarter. EP Wealth Advisors LLC increased its position in shares of Public Storage by 18.1% during the first quarter. EP Wealth Advisors LLC now owns 2,281 shares of the real estate investment trust's stock worth $662,000 after acquiring an additional 350 shares during the last quarter. Axxcess Wealth Management LLC increased its position in shares of Public Storage by 61.6% during the first quarter. Axxcess Wealth Management LLC now owns 1,913 shares of the real estate investment trust's stock worth $555,000 after acquiring an additional 729 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Public Storage during the first quarter worth about $40,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on PSA. Barclays decreased their target price on Public Storage from $381.00 to $380.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their price target on Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Scotiabank increased 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. Citigroup increased their target price on Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a report on Friday, August 30th. Finally, Truist Financial downgraded shares of Public Storage from a "buy" rating to a "hold" rating and set a $306.00 price target on the stock. in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of "Moderate Buy" and a consensus target price of $339.64.

Public Storage Stock Up 0.5 %

Shares of PSA traded up $1.73 during trading hours on Friday, reaching $337.58. 508,842 shares of the stock traded hands, compared to its average volume of 794,141. 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 stock has a fifty day simple moving average of $343.82 and a 200 day simple moving average of $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 cap of $59.11 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 5.59 and a beta of 0.70.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.55%. Public Storage's payout ratio is 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.