Northwest & Ethical Investments L.P. Decreases Position in Public Storage (NYSE:PSA)

Northwest & Ethical Investments L.P. lessened its stake in Public Storage (NYSE:PSA - Free Report) by 22.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,993 shares of the real estate investment trust's stock after selling 8,555 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Public Storage were worth $8,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Quent Capital LLC grew its position in shares of Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after buying an additional 50 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Public Storage in the third quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new position in Public Storage in the fourth quarter worth $38,000. Toth Financial Advisory Corp increased 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 purchasing an additional 66 shares in the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of Public Storage during the fourth quarter worth $67,000. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSA has been the topic of several research analyst reports. Barclays restated an "overweight" rating and set a $354.00 target price (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Truist Financial decreased their price objective on shares of Public Storage from $316.00 to $310.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. 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 report on Friday, January 10th. Scotiabank cut their target price on Public Storage from $338.00 to $333.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 5th. Finally, 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 note on Friday, February 21st. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $338.00.

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Public Storage Price Performance

Shares of Public Storage stock traded down $5.96 during trading hours on Tuesday, reaching $288.97. The stock had a trading volume of 610,234 shares, compared to its average volume of 679,504. The stock's 50 day moving average is $300.07 and its 200 day moving average is $321.50. 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 twelve month low of $256.31 and a twelve month high of $369.99. The firm has a market capitalization of $50.69 billion, a PE ratio of 30.01, a PEG ratio of 4.91 and a beta of 0.73.

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 given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

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.