Public Storage (NYSE:PSA) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its stake in shares of Public Storage (NYSE:PSA - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 999,426 shares of the real estate investment trust's stock after purchasing an additional 202,944 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.57% of Public Storage worth $299,006,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Doliver Advisors LP raised its holdings in 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 valued at $433,000 after acquiring an additional 36 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of Public Storage by 3.4% in the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock valued at $345,000 after acquiring an additional 38 shares during the period. Werba Rubin Papier Wealth Management grew its position in Public Storage by 1.7% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock worth $681,000 after purchasing an additional 38 shares during the last quarter. Continuum Advisory LLC boosted its stake in shares of Public Storage by 7.6% during the third quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust's stock worth $182,000 after buying an additional 39 shares during the period. Finally, TD Private Client Wealth LLC grew its holdings 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 buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

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Public Storage Trading Down 1.1 %

Shares of Public Storage stock traded down $3.01 during trading hours on Thursday, reaching $279.28. 524,555 shares of the company's stock were exchanged, compared to its average volume of 729,178. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The company has a fifty day moving average of $297.78 and a 200-day moving average of $315.04. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $48.99 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's payout ratio is 112.89%.

Analyst Ratings Changes

Several research firms have recently commented on PSA. Royal Bank of Canada cut their price target 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. Scotiabank upgraded shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and dropped their price target for the stock from $333.00 to $305.00 in a research note on Wednesday. Wells Fargo & Company reduced their price target on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target for the company in a report on Thursday. Finally, Barclays restated an "overweight" rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $332.08.

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.