Rodgers Brothers Inc. Purchases Shares of 4,450 Public Storage (NYSE:PSA)

Rodgers Brothers Inc. bought a new position in Public Storage (NYSE:PSA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,450 shares of the real estate investment trust's stock, valued at approximately $1,333,000.

Other large investors have also recently bought and sold shares of the company. Alliancebernstein L.P. increased its stake in shares of Public Storage by 0.7% in the fourth quarter. Alliancebernstein L.P. now owns 483,735 shares of the real estate investment trust's stock valued at $144,850,000 after buying an additional 3,596 shares during the period. Meeder Asset Management Inc. increased its position in Public Storage by 1,360.5% in the 4th quarter. Meeder Asset Management Inc. now owns 1,256 shares of the real estate investment trust's stock valued at $376,000 after acquiring an additional 1,170 shares during the period. Hazlett Burt & Watson Inc. increased its position in Public Storage by 2,710.0% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 281 shares of the real estate investment trust's stock valued at $84,000 after acquiring an additional 271 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Public Storage by 39.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 27,000 shares of the real estate investment trust's stock valued at $8,085,000 after acquiring an additional 7,589 shares during the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of Public Storage during the fourth quarter worth $125,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Down 0.5 %

Shares of PSA stock traded down $1.42 on Wednesday, reaching $297.44. 596,766 shares of the company were exchanged, compared to its average volume of 711,510. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50-day moving average of $300.01 and a 200-day moving average of $318.91. The company has a market cap of $52.18 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 4.91 and a beta of 0.73. Public Storage has a one year low of $256.31 and a one year high of $369.99.

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Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's payout ratio is currently 112.89%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PSA shares. Barclays restated an "overweight" rating and issued a $354.00 price objective (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Wells Fargo & Company decreased their price target on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and lifted their price objective for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada decreased their target price on shares of 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. Finally, Scotiabank dropped their price target on shares of 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. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage presently has an average rating of "Moderate Buy" and an average target price of $338.73.

Public Storage Company 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.