Public Storage (NYSE:PSA) Stake Lowered by Guggenheim Capital LLC

Guggenheim Capital LLC trimmed its stake in Public Storage (NYSE:PSA - Free Report) by 42.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 46,047 shares of the real estate investment trust's stock after selling 34,617 shares during the quarter. Guggenheim Capital LLC's holdings in Public Storage were worth $13,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PSA. Quent Capital LLC lifted its position 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 last quarter. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC bought a new stake in shares of Public Storage during the fourth quarter valued at approximately $38,000. Toth Financial Advisory Corp boosted its position in shares of Public Storage by 48.2% during the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock worth $61,000 after buying an additional 66 shares during the period. Finally, Parkworth Wealth Management Inc. bought a new position in Public Storage in the 4th quarter worth approximately $67,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Down 2.2 %

NYSE:PSA traded down $6.54 during trading hours on Monday, hitting $289.47. 99,837 shares of the stock traded hands, compared to its average volume of 733,491. The firm has a 50 day moving average price of $295.93 and a 200 day moving average price of $311.30. The firm has a market cap of $50.78 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 4.91 and a beta of 0.76. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.15%. Public Storage's payout ratio is presently 112.89%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Royal Bank of Canada reduced their price target on Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a research report on Thursday, April 10th. 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 note on Friday, February 21st. Barclays reissued an "overweight" rating and set a $354.00 target price (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Finally, Scotiabank raised Public Storage from a "sector perform" rating to a "sector outperform" rating and dropped their price objective for the stock from $333.00 to $305.00 in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Public Storage has a consensus rating of "Moderate Buy" and an average price target of $332.08.

About Public Storage

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.