Legal & General Group Plc decreased its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,929,797 shares of the real estate investment trust's stock after selling 383,579 shares during the period. Legal & General Group Plc owned approximately 1.10% of Public Storage worth $577,858,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PSA. Doliver Advisors LP increased its position in shares of Public Storage by 2.6% in the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust's stock worth $433,000 after acquiring an additional 36 shares in the last quarter. Brooklyn Investment Group boosted its position in Public Storage by 3.4% during the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock worth $345,000 after purchasing an additional 38 shares during the period. Werba Rubin Papier Wealth Management increased its holdings in Public Storage by 1.7% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock valued at $681,000 after purchasing an additional 38 shares in the last quarter. Continuum Advisory LLC raised its position in Public Storage by 7.6% in the third quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust's stock valued at $182,000 after purchasing an additional 39 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in shares of Public Storage by 2.4% during the third quarter. TD Private Client Wealth LLC now owns 1,695 shares of the real estate investment trust's stock worth $617,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on PSA. 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 reiterated an "overweight" rating and set a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. 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 note on Thursday. Wells Fargo & Company dropped their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and boosted their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $332.08.
Get Our Latest Stock Analysis on PSA
Public Storage Stock Performance
Shares of PSA traded up $1.88 during mid-day trading on Friday, hitting $279.95. The stock had a trading volume of 1,035,590 shares, compared to its average volume of 734,257. 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 company has a market cap of $49.11 billion, a PE ratio of 29.07, 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's fifty day simple moving average is $297.08 and its two-hundred day simple moving average is $313.61.
Public Storage Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date was Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 4.29%. Public Storage's dividend payout ratio (DPR) is 112.89%.
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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