Stenger Family Office LLC Purchases Shares of 3,816 Public Storage (NYSE:PSA)

Stenger Family Office LLC acquired a new stake in Public Storage (NYSE:PSA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,816 shares of the real estate investment trust's stock, valued at approximately $1,143,000.

Several other large investors have also modified their holdings of PSA. Quent Capital LLC raised its stake in shares of Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Synergy Asset Management LLC acquired a new position in shares of Public Storage in the fourth quarter worth $38,000. Millstone Evans Group LLC bought a new position in Public Storage during the fourth quarter valued at approximately $38,000. Toth Financial Advisory Corp raised its holdings in Public Storage by 48.2% during the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock valued at $61,000 after buying an additional 66 shares in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in Public Storage during the fourth quarter worth approximately $67,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded 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. Royal Bank of Canada decreased their price objective on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Scotiabank upgraded shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and reduced their price target for the stock from $333.00 to $305.00 in a research report on Wednesday, April 9th. Mizuho initiated coverage on shares of Public Storage in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 target price for the company. Finally, Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a research note on Thursday, April 10th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $332.08.

Public Storage Stock Down 3.0 %

Shares of NYSE:PSA traded down $8.92 during midday trading on Monday, hitting $287.09. The stock had a trading volume of 167,047 shares, compared to its average volume of 733,712. The company has a market cap of $50.36 billion, a P/E ratio of 29.81, a PEG ratio of 4.91 and a beta of 0.76. 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 business's 50-day simple moving average is $295.93 and its 200-day simple moving average is $311.30. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99.

Public Storage Dividend Announcement

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 4.18%. The ex-dividend date was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

Public Storage Company 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.