Public Storage (NYSE:PSA) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of Public Storage (NYSE:PSA) by 41.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,120 shares of the real estate investment trust’s stock after selling 34,320 shares during the period. Victory Capital Management Inc.’s holdings in Public Storage were worth $17,509,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. OFI Invest Asset Management acquired a new position in Public Storage during the 2nd quarter worth approximately $32,000. Opal Wealth Advisors LLC acquired a new position in Public Storage during the 2nd quarter worth approximately $36,000. Ashton Thomas Securities LLC acquired a new position in Public Storage during the 3rd quarter worth approximately $38,000. Crewe Advisors LLC acquired a new position in Public Storage during the 1st quarter worth approximately $39,000. Finally, EdgeRock Capital LLC acquired a new position in Public Storage during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

PSA stock opened at $334.50 on Wednesday. Public Storage has a 1 year low of $251.49 and a 1 year 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 stock’s 50 day moving average price is $345.22 and its 200 day moving average price is $315.64. The firm has a market cap of $58.57 billion, a P/E ratio of 34.74, a PEG ratio of 5.57 and a beta of 0.70.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.59%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup boosted their price target on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Barclays decreased their price target on Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Evercore ISI decreased their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Wolfe Research raised Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Scotiabank boosted their price target on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $339.64.

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.