Worldquant Millennium Advisors LLC Reduces Stock Position in Public Storage (NYSE:PSA)

Worldquant Millennium Advisors LLC cut its stake in shares of Public Storage (NYSE:PSA - Free Report) by 79.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,621 shares of the real estate investment trust's stock after selling 70,466 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Public Storage were worth $6,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PSA. OFI Invest Asset Management purchased a new stake in shares of Public Storage during the second quarter valued at approximately $32,000. Prospera Private Wealth LLC bought a new stake in Public Storage in the 3rd quarter worth $34,000. Opal Wealth Advisors LLC purchased a new position in shares of Public Storage in the second quarter valued at about $36,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage during the third quarter valued at about $38,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Public Storage during the second quarter worth about $39,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Up 0.4 %

PSA stock traded up $1.33 on Friday, reaching $334.00. 1,013,532 shares of the company traded hands, compared to its average volume of 647,287. The firm has a fifty day simple moving average of $340.38 and a 200-day simple moving average of $321.03. The company has a market cap of $58.49 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 5.57 and a beta of 0.71. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Friday, December 13th. Public Storage's dividend payout ratio (DPR) is currently 124.61%.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of research analyst reports. Truist Financial boosted their price target on Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a report on Thursday. Wells Fargo & Company dropped their price target on Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Scotiabank boosted their price objective on shares of Public Storage from $308.00 to $339.00 and gave the company a "sector perform" rating in a research report on Thursday, August 22nd. Royal Bank of Canada dropped their target price on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Finally, Wolfe Research upgraded shares of Public Storage to a "strong-buy" rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $342.07.

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.