Public Storage (NYSE:PSA) Shares Sold by Lindenwold Advisors INC

Lindenwold Advisors INC cut its position in shares of Public Storage (NYSE:PSA) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,209 shares of the real estate investment trust’s stock after selling 181 shares during the period. Lindenwold Advisors INC’s holdings in Public Storage were worth $1,260,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PSA. Quent Capital LLC increased its position in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage in the third quarter worth $34,000. Synergy Asset Management LLC purchased a new position in shares of Public Storage in the 4th quarter valued at $38,000. Toth Financial Advisory Corp raised its stake in shares of Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 66 shares during the period. Finally, McIlrath & Eck LLC lifted its holdings in shares of Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 43 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Down 0.7 %

NYSE:PSA opened at $298.27 on Wednesday. The stock has a 50-day simple moving average of $299.89 and a 200 day simple moving average of $322.86. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a market capitalization of $52.32 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PSA shares. Barclays reiterated an “overweight” rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and raised their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada reduced their price target on 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. Scotiabank lowered their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company reduced 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 report on Friday, February 21st. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and an average target price of $337.38.

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.