Vanguard Group Inc. Has $6.17 Billion Stake in Public Storage (NYSE:PSA)

Vanguard Group Inc. trimmed its stake in Public Storage (NYSE:PSA) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,592,321 shares of the real estate investment trust’s stock after selling 60,365 shares during the period. Vanguard Group Inc. owned about 0.12% of Public Storage worth $6,166,165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Raymond James Trust N.A. boosted its position in shares of Public Storage by 11.2% during the 3rd quarter. Raymond James Trust N.A. now owns 2,193 shares of the real estate investment trust’s stock valued at $798,000 after acquiring an additional 221 shares in the last quarter. Nwam LLC acquired a new stake in shares of Public Storage during the 3rd quarter valued at about $242,000. Great Valley Advisor Group Inc. boosted its position in shares of Public Storage by 2.6% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,122 shares of the real estate investment trust’s stock valued at $773,000 after acquiring an additional 53 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Public Storage by 18.0% during the 3rd quarter. Cerity Partners LLC now owns 32,566 shares of the real estate investment trust’s stock valued at $11,850,000 after acquiring an additional 4,961 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Public Storage during the 3rd quarter valued at about $381,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSA has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Scotiabank decreased 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 report on Wednesday, March 5th. Royal Bank of Canada reduced 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 report on Wednesday, February 26th. Truist Financial reduced their price target on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Finally, Barclays restated an “overweight” rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $338.00.

Public Storage Trading Down 1.8 %

Shares of NYSE PSA opened at $291.19 on Monday. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a market cap of $51.08 billion, a PE ratio of 30.24, a P/E/G ratio of 4.91 and a beta of 0.73. 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 company has a 50-day moving average of $299.96 and a two-hundred day moving average of $321.83.

Public Storage Announces Dividend

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

Public Storage 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.