Price T Rowe Associates Inc. MD Lowers Position in Public Storage (NYSE:PSA)

Price T Rowe Associates Inc. MD decreased its holdings in Public Storage (NYSE:PSA - Free Report) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,911,643 shares of the real estate investment trust's stock after selling 192,109 shares during the period. Price T Rowe Associates Inc. MD owned 3.38% of Public Storage worth $1,770,186,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Quent Capital LLC lifted its holdings in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after buying an additional 50 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Public Storage during the 4th quarter valued at $32,000. Synergy Asset Management LLC purchased a new stake in shares of Public Storage in the fourth quarter worth $38,000. Millstone Evans Group LLC purchased a new position in Public Storage during the fourth quarter worth about $38,000. Finally, Bridge Generations Wealth Management LLC purchased a new stake in shares of Public Storage in the 4th quarter valued at about $56,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Trading Up 0.2 %

Public Storage stock traded up $0.48 during trading hours on Monday, reaching $291.39. The stock had a trading volume of 146,995 shares, compared to its average volume of 736,256. The company has a fifty day simple moving average of $295.33 and a 200-day simple moving average of $309.44. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The stock has a market cap of $51.11 billion, a PE ratio of 30.25, a PEG ratio of 4.91 and a beta of 0.76. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Thursday, March 13th. Public Storage's payout ratio is 112.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PSA shares. Bank of America upgraded shares of Public Storage from a "neutral" rating to a "buy" rating and lifted their target price for the company from $349.00 to $368.00 in a research report on Tuesday, April 22nd. Wells Fargo & Company dropped their price target on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Barclays reissued an "overweight" rating and set a $354.00 price objective (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Truist Financial raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a research note on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and lifted their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Five equities research 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. According to MarketBeat.com, Public Storage presently has a consensus rating of "Moderate Buy" and an average price target of $336.25.

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.