Public Storage (NYSE:PSA) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,592,321 shares of the real estate investment trust's stock after selling 60,365 shares during the period. Vanguard Group Inc. owned about 11.76% of Public Storage worth $6,166,165,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PSA. Quent Capital LLC grew its stake in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 50 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in Public Storage in the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC purchased a new stake in shares of Public Storage during the fourth quarter valued at approximately $38,000. Toth Financial Advisory Corp lifted 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. purchased a new position in shares of Public Storage in the fourth quarter valued at $67,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Performance

NYSE PSA traded down $5.96 during trading hours on Tuesday, reaching $288.97. The company's stock had a trading volume of 610,234 shares, compared to its average volume of 680,711. 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 business has a 50-day simple moving average of $300.07 and a 200 day simple moving average of $321.50. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The stock has a market cap of $50.69 billion, a PE ratio of 30.01, a PEG ratio of 4.91 and a beta of 0.73.

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Public Storage Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on PSA shares. Truist Financial cut their price objective on shares of Public Storage from $316.00 to $310.00 and set a "hold" rating on the stock in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and boosted their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Scotiabank lowered their price objective on Public Storage from $338.00 to $333.00 and set a "sector perform" rating for the company in a research note on Wednesday, March 5th. Wells Fargo & Company dropped their price objective on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Finally, Royal Bank of Canada reduced their target price 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. Seven 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.