Public Storage (NYSE:PSA) Shares Sold by Syon Capital LLC

Syon Capital LLC reduced its stake in shares of Public Storage (NYSE:PSA) by 11.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,101 shares of the real estate investment trust’s stock after selling 139 shares during the quarter. Syon Capital LLC’s holdings in Public Storage were worth $330,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Barclays PLC raised its position in Public Storage by 2.9% during the third quarter. Barclays PLC now owns 465,653 shares of the real estate investment trust’s stock valued at $169,433,000 after acquiring an additional 13,065 shares in the last quarter. McIlrath & Eck LLC grew its stake 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 worth $79,000 after purchasing an additional 43 shares during the period. World Investment Advisors LLC purchased a new position in shares of Public Storage during the 3rd quarter valued at approximately $3,713,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Public Storage in the 3rd quarter valued at $1,466,000. Finally, Tidal Investments LLC boosted its holdings in Public Storage by 30.3% during the third quarter. Tidal Investments LLC now owns 11,386 shares of the real estate investment trust’s stock worth $4,143,000 after buying an additional 2,646 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of NYSE PSA opened at $290.85 on Friday. The firm has a 50-day simple moving average of $295.33 and a 200-day simple moving average of $309.93. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $51.02 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is 112.89%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a report on Thursday, April 10th. Royal Bank of Canada reduced their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Scotiabank raised Public Storage from a “sector perform” rating to a “sector outperform” rating and dropped their price objective for the company from $333.00 to $305.00 in a report on Wednesday, April 9th. Mizuho started coverage on Public Storage in a research note on Wednesday, April 9th. They set a “neutral” rating and a $287.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $336.25.

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.