Capital International Inc. CA boosted its position in Public Storage (NYSE:PSA - Free Report) by 17.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,603 shares of the real estate investment trust's stock after purchasing an additional 1,612 shares during the quarter. Capital International Inc. CA's holdings in Public Storage were worth $3,175,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quent Capital LLC boosted its holdings in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 50 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Public Storage during the 4th quarter worth $32,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage during the 4th quarter valued at $38,000. Millstone Evans Group LLC bought a new position in shares of Public Storage in the fourth quarter worth $38,000. Finally, Bridge Generations Wealth Management LLC acquired a new position in Public Storage in the fourth quarter valued at about $56,000. Institutional investors and hedge funds own 78.79% of the company's stock.
Public Storage Trading Down 1.0 %
PSA stock traded down $2.94 during trading on Friday, hitting $290.85. The company had a trading volume of 909,820 shares, compared to its average volume of 782,685. 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 has a one year low of $256.31 and a one year high of $369.99. The business has a 50-day moving average of $295.45 and a 200-day moving average of $310.32. The stock has a market cap of $51.02 billion, a PE ratio of 30.20, a PEG ratio of 4.91 and a beta of 0.76.
Public Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is presently 112.89%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on PSA shares. Mizuho initiated coverage on shares of Public Storage in a research report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 target price for the company. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target on the stock in a research note on Thursday, April 10th. Royal Bank of Canada lowered their target price on Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Barclays reaffirmed an "overweight" rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and boosted their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Public Storage has an average rating of "Moderate Buy" and a consensus price target of $336.25.
Read Our Latest Stock Report on Public Storage
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.
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