Charles Schwab Investment Management Inc. Sells 11,377 Shares of Public Storage (NYSE:PSA)

Charles Schwab Investment Management Inc. trimmed its position in Public Storage (NYSE:PSA - Free Report) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,801,759 shares of the real estate investment trust's stock after selling 11,377 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.60% of Public Storage worth $838,959,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its stake in Public Storage by 135.1% during the fourth 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 last quarter. Prospera Private Wealth LLC bought a new position in shares of Public Storage in the third quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage during the 3rd quarter valued at $38,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage during the 4th quarter worth $38,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Public Storage in the 3rd quarter worth $55,000. 78.79% of the stock is owned by institutional investors.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the transaction, the insider now directly owns 2,364 shares of the company's stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.00% of the stock is owned by company insiders.

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Public Storage Price Performance

Shares of Public Storage stock traded up $5.56 during trading on Friday, reaching $313.99. The company's stock had a trading volume of 895,178 shares, compared to its average volume of 707,990. Public Storage has a one year low of $256.31 and a one year high of $369.99. The stock has a 50-day moving average price of $298.99 and a two-hundred day moving average price of $324.83. The stock has a market capitalization of $55.08 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.82%. Public Storage's dividend payout ratio (DPR) is currently 112.89%.

Analyst Upgrades and Downgrades

PSA has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Scotiabank decreased their price target on shares of Public Storage from $338.00 to $333.00 and set a "sector perform" rating for the company in a report on Wednesday. Royal Bank of Canada lowered their price target on Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Truist Financial raised their target price on Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Finally, Barclays decreased their price target on Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $340.23.

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.