Stifel Financial Corp Has $20.01 Million Stock Position in Public Storage (NYSE:PSA)

Stifel Financial Corp decreased its position in Public Storage (NYSE:PSA - Free Report) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,803 shares of the real estate investment trust's stock after selling 3,053 shares during the quarter. Stifel Financial Corp's holdings in Public Storage were worth $20,008,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Public Storage during the 4th quarter valued at approximately $931,286,000. Cohen & Steers Inc. boosted its holdings in Public Storage by 12.3% in the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock worth $1,626,731,000 after purchasing an additional 592,944 shares during the period. Amundi boosted its holdings in Public Storage by 54.0% in the fourth quarter. Amundi now owns 779,882 shares of the real estate investment trust's stock worth $230,426,000 after purchasing an additional 273,486 shares during the period. Aew Capital Management L P boosted its holdings in Public Storage by 108.6% in the fourth quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust's stock worth $131,574,000 after purchasing an additional 228,740 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in Public Storage in the fourth quarter worth $66,253,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Friday, January 10th. Bank of America raised shares of Public Storage from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $349.00 to $368.00 in a report on Tuesday, April 22nd. Scotiabank raised shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and reduced their target price for the company from $333.00 to $305.00 in a research note on Wednesday, April 9th. 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. Finally, Mizuho assumed coverage on shares of Public Storage in a research note on Wednesday, April 9th. They set a "neutral" rating and a $287.00 target price for the company. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $336.25.

Public Storage Stock Up 0.3 %

Public Storage stock traded up $0.85 during trading hours on Monday, hitting $291.76. The company had a trading volume of 844,133 shares, compared to its average volume of 738,999. The firm has a market capitalization of $51.18 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. 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 firm's fifty day moving average is $295.22 and its 200-day moving average is $309.08. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.11%. Public Storage's dividend payout ratio (DPR) is 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.