Sei Investments Co. Raises Position in Public Storage (NYSE:PSA)

Sei Investments Co. increased its holdings in Public Storage (NYSE:PSA - Free Report) by 25.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 424,994 shares of the real estate investment trust's stock after purchasing an additional 86,628 shares during the period. Sei Investments Co. owned approximately 0.24% of Public Storage worth $127,261,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Doliver Advisors LP grew its position 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 worth $433,000 after acquiring an additional 36 shares in the last quarter. Brooklyn Investment Group increased its position in shares of 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 valued at $345,000 after purchasing an additional 38 shares during the last quarter. Werba Rubin Papier Wealth Management raised its holdings 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 valued at $681,000 after buying an additional 38 shares during the period. Continuum Advisory LLC boosted its stake in 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 increased its position in 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 valued at $617,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

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Public Storage Stock Down 2.0 %

Shares of NYSE:PSA traded down $5.96 on Tuesday, reaching $288.97. The company had a trading volume of 404,266 shares, compared to its average volume of 679,504. 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. 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 52-week low of $256.31 and a 52-week high of $369.99. The firm's 50 day simple moving average is $300.07 and its 200-day simple moving average is $321.50.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage's payout ratio is 112.89%.

Wall Street Analyst Weigh In

PSA has been the subject of a number of recent analyst reports. Truist Financial dropped their price target on shares of Public Storage from $316.00 to $310.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. Royal Bank of Canada cut their target price on Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and raised their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Scotiabank cut their price objective 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, Barclays reissued 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. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $338.00.

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.