Dimensional Fund Advisors LP Has $662.69 Million Stock Position in Public Storage (NYSE:PSA)

Dimensional Fund Advisors LP trimmed its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,172,724 shares of the real estate investment trust's stock after selling 11,093 shares during the period. Dimensional Fund Advisors LP owned approximately 1.24% of Public Storage worth $662,691,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its position in Public Storage by 16.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust's stock worth $2,567,000 after purchasing an additional 1,349 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Public Storage by 8.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 123,852 shares of the real estate investment trust's stock worth $32,638,000 after purchasing an additional 9,223 shares during the last quarter. Raymond James & Associates increased its position in Public Storage by 4.3% in the 4th quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust's stock worth $34,917,000 after purchasing an additional 4,695 shares during the last quarter. Ellsworth Advisors LLC increased its position in Public Storage by 615.7% in the 4th quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust's stock worth $6,040,000 after purchasing an additional 17,036 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in Public Storage by 8.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 163,191 shares of the real estate investment trust's stock worth $49,773,000 after purchasing an additional 12,574 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Performance

Shares of PSA stock traded up $0.55 during mid-day trading on Friday, reaching $275.94. The stock had a trading volume of 383,268 shares, compared to its average volume of 688,999. The firm's 50 day simple moving average is $275.58 and its 200 day simple moving average is $276.37. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. Public Storage has a one year low of $233.18 and a one year high of $312.25. The firm has a market cap of $48.48 billion, a PE ratio of 25.06, a P/E/G ratio of 3.61 and a beta of 0.57.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing analysts' consensus estimates of $4.15 by ($1.94). Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business posted $4.16 EPS. Public Storage's revenue was up 6.6% compared to the same quarter last year. On average, analysts forecast that Public Storage will post 16.93 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 12th will be given a dividend of $3.00 per share. The ex-dividend date is Wednesday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.35%. Public Storage's dividend payout ratio (DPR) is presently 108.99%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Public Storage in a research report on Tuesday, January 30th. They issued a "sell" rating and a $250.00 target price on the stock. Barclays started coverage on Public Storage in a report on Wednesday, March 27th. They set an "overweight" rating and a $330.00 price objective on the stock. BMO Capital Markets increased their price objective on Public Storage from $325.00 to $330.00 and gave the company an "outperform" rating in a report on Tuesday, March 19th. Wells Fargo & Company raised Public Storage from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $280.00 to $310.00 in a report on Friday, April 5th. Finally, Raymond James raised Public Storage from a "market perform" rating to a "strong-buy" rating and set a $330.00 price objective on the stock in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $305.00.

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.

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.