Duff & Phelps Investment Management Co. trimmed its holdings in Public Storage (NYSE:PSA - Free Report) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 555,200 shares of the real estate investment trust's stock after selling 36,160 shares during the quarter. Public Storage accounts for approximately 2.3% of Duff & Phelps Investment Management Co.'s investment portfolio, making the stock its 6th biggest holding. Duff & Phelps Investment Management Co. owned 0.32% of Public Storage worth $202,021,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSA. Simplicity Wealth LLC raised its position in Public Storage by 7.2% during the second quarter. Simplicity Wealth LLC now owns 1,313 shares of the real estate investment trust's stock valued at $378,000 after acquiring an additional 88 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in shares of Public Storage by 13.1% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 4,251 shares of the real estate investment trust's stock valued at $1,223,000 after purchasing an additional 494 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Public Storage by 22.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,932 shares of the real estate investment trust's stock valued at $1,706,000 after purchasing an additional 1,083 shares during the period. Diversified Trust Co boosted its holdings in Public Storage by 22.5% during the second quarter. Diversified Trust Co now owns 850 shares of the real estate investment trust's stock worth $245,000 after buying an additional 156 shares in the last quarter. Finally, Andina Capital Management LLC grew its position in Public Storage by 9.1% during the second quarter. Andina Capital Management LLC now owns 791 shares of the real estate investment trust's stock valued at $228,000 after buying an additional 66 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on PSA shares. Wolfe Research raised shares of Public Storage to a "strong-buy" rating in a research note on Wednesday, September 4th. Citigroup upped their price target on shares of Public Storage from $303.00 to $378.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. Morgan Stanley lifted their price objective on Public Storage from $293.00 to $315.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 2nd. Barclays cut their price objective 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. Finally, Scotiabank lifted their price target on Public Storage from $308.00 to $339.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Public Storage currently has a consensus rating of "Moderate Buy" and an average target price of $342.07.
View Our Latest Stock Analysis on PSA
Public Storage Trading Up 0.5 %
Shares of PSA traded up $1.67 during mid-day trading on Monday, reaching $335.67. The stock had a trading volume of 570,597 shares, compared to its average volume of 712,818. 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 business's fifty day moving average is $340.38 and its 200 day moving average is $321.30. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The firm has a market cap of $58.78 billion, a price-to-earnings ratio of 34.68, a P/E/G ratio of 5.56 and a beta of 0.71.
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 issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.57%. Public Storage's dividend payout ratio is currently 124.61%.
About Public Storage
(
Free Report)
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.
Further Reading
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