Public Storage (NYSE:PSA) Shares Sold by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. lessened its position in shares of Public Storage (NYSE:PSA) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,542 shares of the real estate investment trust’s stock after selling 52 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Public Storage were worth $1,061,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Public Storage in the fourth quarter valued at about $931,286,000. Amundi boosted its holdings in Public Storage by 54.0% in the 4th quarter. Amundi now owns 779,882 shares of the real estate investment trust’s stock worth $230,426,000 after buying an additional 273,486 shares during the last quarter. Aew Capital Management L P increased its stake in Public Storage by 108.6% during the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock worth $131,574,000 after buying an additional 228,740 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Public Storage during the fourth quarter valued at approximately $66,253,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Public Storage in the fourth quarter valued at approximately $56,164,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PSA has been the subject of several recent research reports. Truist Financial reduced their price objective on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Royal Bank of Canada decreased their price target 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 lowered their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Barclays reiterated an “overweight” rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Finally, Scotiabank lowered their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $338.73.

Public Storage Trading Down 0.5 %

PSA opened at $297.44 on Thursday. The stock has a market capitalization of $52.18 billion, a PE ratio of 30.89, a P/E/G ratio of 4.91 and a beta of 0.73. Public Storage has a one year low of $256.31 and a one year 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. The business’s 50 day moving average price is $300.14 and its 200 day moving average price is $318.76.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend 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.