Dean Investment Associates LLC Sells 1,293 Shares of Public Storage (NYSE:PSA)

Dean Investment Associates LLC decreased its stake in shares of Public Storage (NYSE:PSA) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,521 shares of the real estate investment trust’s stock after selling 1,293 shares during the period. Dean Investment Associates LLC’s holdings in Public Storage were worth $4,648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSA. Quent Capital LLC raised its position in Public Storage by 135.1% in 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 during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Public Storage during the fourth quarter worth $32,000. Synergy Asset Management LLC bought a new position in Public Storage in the fourth quarter valued at about $38,000. Millstone Evans Group LLC acquired a new stake in Public Storage in the fourth quarter worth about $38,000. Finally, Toth Financial Advisory Corp raised its holdings in Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $289.25 on Thursday. The firm has a market cap of $50.74 billion, a P/E ratio of 30.04, a PEG ratio of 4.91 and a beta of 0.76. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s 50 day moving average price is $296.27 and its two-hundred day moving average price is $312.80.

Public Storage Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Thursday, March 13th. Public Storage’s dividend payout ratio is 112.89%.

Analysts Set New Price Targets

PSA has been the subject of several analyst reports. Mizuho began coverage on shares of Public Storage in a research report on Wednesday, April 9th. They set a “neutral” rating and a $287.00 price target for the company. Barclays reissued an “overweight” rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Royal Bank of Canada dropped their price objective 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. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and raised their target price for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Wells Fargo & Company lowered their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $332.08.

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.