Public Storage (NYSE:PSA) Position Reduced by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its stake in Public Storage (NYSE:PSA - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,122,289 shares of the real estate investment trust's stock after selling 13,241 shares during the period. Dimensional Fund Advisors LP owned about 1.21% of Public Storage worth $635,482,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PSA. Doliver Advisors LP raised its stake in Public Storage by 2.6% during the 4th quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust's stock worth $433,000 after acquiring an additional 36 shares in the last quarter. Brooklyn Investment Group lifted its stake in Public Storage by 3.4% in the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock valued at $345,000 after buying an additional 38 shares during the last quarter. Werba Rubin Papier Wealth Management increased its holdings in shares of Public Storage by 1.7% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock valued at $681,000 after acquiring an additional 38 shares during the period. Premier Path Wealth Partners LLC increased its stake in Public Storage by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock valued at $366,000 after purchasing an additional 40 shares during the period. Finally, Global X Japan Co. Ltd. raised its holdings in shares of Public Storage by 13.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock valued at $100,000 after buying an additional 40 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Down 0.1 %

Shares of Public Storage stock traded down $0.34 during trading hours on Thursday, hitting $294.89. The company's stock had a trading volume of 255,647 shares, compared to its average volume of 734,884. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $51.73 billion, a PE ratio of 30.60, a P/E/G ratio of 4.91 and a beta of 0.76. The business has a fifty day moving average of $295.53 and a 200 day moving average of $310.69. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is 112.89%.

Analyst Ratings Changes

Several analysts have commented on PSA shares. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and upped their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Bank of America upgraded shares of Public Storage from a "neutral" rating to a "buy" rating and raised their price objective for the company from $349.00 to $368.00 in a research report on Tuesday. Mizuho began coverage on Public Storage in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price target on the stock. Royal Bank of Canada cut their price target on shares of 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, Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a report on Thursday, April 10th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $336.25.

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.