Sei Investments Co. Grows Holdings in Public Storage (NYSE:PSA)

Sei Investments Co. grew its stake in Public Storage (NYSE:PSA) by 25.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 424,994 shares of the real estate investment trust’s stock after acquiring an additional 86,628 shares during the period. Sei Investments Co.’s holdings in Public Storage were worth $127,261,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Doliver Advisors LP raised its stake in shares of Public Storage by 2.6% in the 4th quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust’s stock valued at $433,000 after acquiring an additional 36 shares during the period. Brooklyn Investment Group raised its stake in shares of Public Storage by 3.4% in the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock valued at $345,000 after acquiring an additional 38 shares during the period. Werba Rubin Papier Wealth Management raised its stake 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. Continuum Advisory LLC raised its stake in shares of Public Storage by 7.6% in the 3rd quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust’s stock valued at $182,000 after acquiring an additional 39 shares during the period. Finally, TD Private Client Wealth LLC raised its stake in shares of Public Storage by 2.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,695 shares of the real estate investment trust’s stock valued at $617,000 after acquiring an additional 39 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Down 1.8 %

Shares of Public Storage stock opened at $291.19 on Friday. The company has a fifty day simple moving average of $299.96 and a 200-day simple moving average of $321.98. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market cap of $51.08 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays reaffirmed an “overweight” rating and set a $354.00 target price (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Royal Bank of Canada cut their target price 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. Wells Fargo & Company cut their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Scotiabank cut their target price on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and upped their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $338.00.

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.