Stifel Financial Corp Sells 3,053 Shares of Public Storage (NYSE:PSA)

Stifel Financial Corp lessened its position in shares of Public Storage (NYSE:PSA - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,803 shares of the real estate investment trust's stock after selling 3,053 shares during the period. Stifel Financial Corp's holdings in Public Storage were worth $20,008,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC raised its position 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 valued at $26,000 after buying an additional 50 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Public Storage in the 4th quarter valued at $32,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage during the 4th quarter valued at $38,000. Millstone Evans Group LLC acquired a new stake in shares of Public Storage during the 4th quarter worth $38,000. Finally, Bridge Generations Wealth Management LLC bought a new position in shares of Public Storage in the fourth quarter worth $56,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PSA shares. Scotiabank upgraded shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and reduced their price objective for the stock from $333.00 to $305.00 in a research note on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and increased their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada lowered their price objective on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Truist Financial raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a report on Thursday, April 10th. Finally, Bank of America raised Public Storage from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $349.00 to $368.00 in a report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Public Storage has a consensus rating of "Moderate Buy" and a consensus price target of $336.25.

Public Storage Trading Up 1.3 %

Shares of NYSE:PSA traded up $3.91 during midday trading on Wednesday, hitting $296.90. 434,617 shares of the stock were exchanged, compared to its average volume of 776,875. The business's 50-day moving average price is $295.02 and its 200 day moving average price is $308.97. The stock has a market capitalization of $52.08 billion, a price-to-earnings ratio of 30.83, a P/E/G ratio of 4.91 and a beta of 0.76. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

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 $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is currently 112.89%.

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.