Public Storage (NYSE:PSA) Shares Sold by Donald L. Hagan LLC

Donald L. Hagan LLC lowered its holdings in Public Storage (NYSE:PSA) by 1.9% during the third quarter, HoldingsChannel.com reports. The fund owned 3,300 shares of the real estate investment trust’s stock after selling 63 shares during the period. Donald L. Hagan LLC’s holdings in Public Storage were worth $1,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its stake in Public Storage by 34.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust’s stock valued at $319,270,000 after buying an additional 281,800 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Public Storage by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after purchasing an additional 219,391 shares during the period. Vanguard Group Inc. raised its holdings in shares of Public Storage by 1.0% during the first quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after buying an additional 217,487 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Public Storage by 116.7% during the second quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock worth $111,077,000 after buying an additional 208,546 shares during the period. Finally, Centersquare Investment Management LLC grew its holdings in Public Storage by 17.2% in the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock worth $343,573,000 after buying an additional 173,975 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Down 4.7 %

Shares of Public Storage stock traded down $16.08 on Wednesday, reaching $324.52. 365,991 shares of the company were exchanged, compared to its average volume of 709,856. Public Storage has a fifty-two week low of $241.60 and a fifty-two week high of $369.99. The firm has a market capitalization of $56.80 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 4.69 and a beta of 0.70. 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 fifty day moving average price of $347.51 and a 200-day moving average price of $310.54.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio is presently 124.61%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PSA shares. Wells Fargo & Company reduced their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday. Barclays upped their price objective on shares of Public Storage from $374.00 to $381.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Morgan Stanley boosted their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Scotiabank upped their price target on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada initiated coverage on shares of Public Storage in a research note on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average price target of $340.71.

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.