Ritholtz Wealth Management Has $645,000 Stake in Public Storage $PSA

Key Points

• Ritholtz Wealth Management cut its stake in Public Storage by 58.6% in Q4, selling 3,524 shares and ending the period with 2,485 shares valued at about $645,000.
• Public Storage recently paid a quarterly dividend of $3.00 (annualized $12.00), implying a 4.0% yield133.04%.
• Analysts are mixed but broadly positive, with a consensus rating of "Moderate Buy" and an average price target of $308.22 amid several recent price-target cuts and rating adjustments.

Ritholtz Wealth Management lowered its position in Public Storage (NYSE:PSA - Free Report) by 58.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,485 shares of the real estate investment trust's stock after selling 3,524 shares during the period. Ritholtz Wealth Management's holdings in Public Storage were worth $645,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Pacific Financial acquired a new position in shares of Public Storage in the 3rd quarter worth approximately $26,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Public Storage in the 3rd quarter worth approximately $27,000. Raiffeisen Bank International AG acquired a new position in shares of Public Storage in the 3rd quarter worth approximately $30,000. Tradewinds Capital Management LLC bought a new stake in shares of Public Storage in the 3rd quarter valued at $33,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Public Storage in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Public Storage from $295.00 to $291.00 and set a "neutral" rating for the company in a research note on Monday, March 23rd. William Blair set a $305.00 price objective on shares of Public Storage in a research note on Monday, March 16th. Deutsche Bank Aktiengesellschaft lowered shares of Public Storage from a "buy" rating to a "hold" rating and set a $285.00 price objective for the company. in a research note on Tuesday, January 20th. BMO Capital Markets reiterated a "market perform" rating on shares of Public Storage in a research note on Monday, March 16th. Finally, BNP Paribas Exane lowered their price objective on shares of Public Storage from $329.00 to $315.00 in a research note on Tuesday, December 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $308.22.

Public Storage Stock Performance

NYSE:PSA opened at $299.97 on Thursday. The company has a fifty day moving average of $291.32 and a 200-day moving average of $283.55. The firm has a market capitalization of $52.65 billion, a P/E ratio of 33.26, a P/E/G ratio of 4.08 and a beta of 1.02. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05. Public Storage has a twelve month low of $256.54 and a twelve month high of $312.95.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, March 16th. Public Storage's payout ratio is 133.04%.

Public Storage Company Profile

Public Storage NYSE: PSA is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company's core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.

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