Public Storage (NYSE:PSA) Shares Sold by Horizon Investments LLC

Horizon Investments LLC lessened its position in shares of Public Storage (NYSE:PSA) by 0.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,827 shares of the real estate investment trust’s stock after selling 34 shares during the quarter. Horizon Investments LLC’s holdings in Public Storage were worth $1,445,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Public Storage by 0.5% during the third quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock worth $3,773,571,000 after acquiring an additional 55,123 shares during the last quarter. FMR LLC boosted its stake in Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after purchasing an additional 869,066 shares during the period. Geode Capital Management LLC grew its position in Public Storage by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock worth $1,425,941,000 after purchasing an additional 52,807 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Public Storage by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock valued at $1,023,080,000 after purchasing an additional 54,992 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Public Storage by 732.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock valued at $561,763,000 after purchasing an additional 1,358,493 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

PSA has been the topic of a number of research reports. Truist Financial lowered their price target on Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a report on Tuesday. Barclays reiterated an “overweight” rating and issued a $354.00 target price (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Scotiabank cut their price target 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. Royal Bank of Canada decreased their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and a consensus target price of $338.00.

Public Storage Stock Down 1.0 %

Shares of NYSE PSA opened at $295.57 on Thursday. The stock has a market capitalization of $51.85 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The firm has a 50-day moving average price of $299.90 and a 200 day moving average price of $322.67. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is 112.89%.

Public Storage 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.