Public Storage (NYSE:PSA) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its stake in shares of Public Storage (NYSE:PSA) by 19.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 662,748 shares of the real estate investment trust’s stock after selling 161,737 shares during the period. American Century Companies Inc.’s holdings in Public Storage were worth $198,454,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Quent Capital LLC increased its position in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Public Storage in the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new position in Public Storage during the 4th quarter worth approximately $38,000. Millstone Evans Group LLC acquired a new stake in Public Storage during the 4th quarter valued at $38,000. Finally, Toth Financial Advisory Corp lifted its holdings in shares of Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 66 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PSA. Royal Bank of Canada lowered their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Truist Financial lowered their target price on Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Wells Fargo & Company decreased their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Barclays restated an “overweight” rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $338.00.

Public Storage Price Performance

Shares of PSA opened at $291.19 on Friday. The firm has a market cap of $51.08 billion, a PE ratio of 30.24, a PEG ratio of 4.91 and a beta of 0.73. The firm’s 50 day moving average price is $299.96 and its 200 day moving average price is $321.98. 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 has a twelve month low of $256.31 and a twelve month high of $369.99.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.12%. The ex-dividend date is Thursday, March 13th. Public Storage’s payout ratio is presently 112.89%.

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.