Public Storage (NYSE:PSA) Shares Sold by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. lessened its holdings in Public Storage (NYSE:PSA - Free Report) by 7.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,000 shares of the real estate investment trust's stock after selling 3,400 shares during the quarter. Adams Diversified Equity Fund Inc.'s holdings in Public Storage were worth $13,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSA. State Street Corp grew its holdings in shares of Public Storage by 0.5% in the third quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust's stock worth $3,773,571,000 after purchasing an additional 55,123 shares during the last quarter. FMR LLC boosted its position in Public Storage by 20.9% in the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust's stock valued at $1,828,763,000 after buying an additional 869,066 shares during the period. Geode Capital Management LLC grew its stake in Public Storage by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust's stock worth $1,425,941,000 after acquiring an additional 52,807 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Public Storage by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust's stock worth $1,023,080,000 after acquiring an additional 54,992 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Public Storage by 732.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust's stock valued at $561,763,000 after acquiring an additional 1,358,493 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

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Public Storage Stock Down 2.0 %

Shares of NYSE PSA traded down $5.96 during trading hours on Tuesday, hitting $288.97. 610,234 shares of the stock were exchanged, compared to its average volume of 679,504. The company has a market cap of $50.69 billion, a PE ratio of 30.01, a PEG ratio of 4.91 and a beta of 0.73. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a fifty day moving average price of $300.07 and a 200-day moving average price of $321.50.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.15%. Public Storage's dividend payout ratio is presently 112.89%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Scotiabank dropped their price objective on Public Storage from $338.00 to $333.00 and set a "sector perform" rating on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company dropped their price target on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and lifted their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Barclays reaffirmed an "overweight" rating and issued a $354.00 price objective (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Finally, Truist Financial reduced their price target on shares of Public Storage from $316.00 to $310.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Public Storage has an average rating of "Moderate Buy" and an average price target of $338.00.

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.