Public Storage (NYSE:PSA) Holdings Trimmed by Pacer Advisors Inc.

Pacer Advisors Inc. cut its holdings in Public Storage (NYSE:PSA) by 11.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 103,973 shares of the real estate investment trust’s stock after selling 13,476 shares during the quarter. Pacer Advisors Inc.’s holdings in Public Storage were worth $37,833,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PSA. Price T Rowe Associates Inc. MD lifted its stake in Public Storage by 4.2% during 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 last quarter. AQR Capital Management LLC boosted its stake in shares of Public Storage by 116.7% during the 2nd quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock worth $111,077,000 after acquiring an additional 208,546 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Public Storage by 1,980.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 144,185 shares of the real estate investment trust’s stock worth $41,475,000 after acquiring an additional 137,256 shares during the last quarter. APG Asset Management US Inc. raised its position in shares of Public Storage by 4.8% during the second quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock worth $623,485,000 after purchasing an additional 100,000 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Public Storage during the second quarter valued at $278,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PSA shares. Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective on the stock. in a report on Thursday, August 1st. Citigroup boosted their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective for the company. in a research note on Monday, August 5th. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group increased their target price on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and a consensus price target of $339.64.

Public Storage Price Performance

PSA opened at $337.62 on Friday. The stock has a fifty day moving average price of $343.82 and a 200 day moving average price of $316.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 1 year low of $251.49 and a 1 year high of $369.99. The stock has a market cap of $59.12 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 5.59 and a beta of 0.70.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.55%. Public Storage’s dividend payout ratio is 124.61%.

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.