Public Storage (NYSE:PSA) Shares Sold by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC decreased its stake in shares of Public Storage (NYSE:PSA) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,706,632 shares of the real estate investment trust’s stock after selling 35,425 shares during the period. Public Storage comprises about 1.7% of Barrow Hanley Mewhinney & Strauss LLC’s investment portfolio, making the stock its 16th biggest holding. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Public Storage were worth $511,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Doliver Advisors LP increased its holdings in shares of Public Storage by 2.6% during the 4th quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust’s stock valued at $433,000 after acquiring an additional 36 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Public Storage by 3.4% in the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock valued at $345,000 after purchasing an additional 38 shares during the period. Werba Rubin Papier Wealth Management lifted its stake in shares of Public Storage by 1.7% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock worth $681,000 after buying an additional 38 shares during the last quarter. Continuum Advisory LLC grew its stake in Public Storage by 7.6% in the 3rd quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 39 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in Public Storage by 2.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,695 shares of the real estate investment trust’s stock worth $617,000 after acquiring an additional 39 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Truist Financial lowered their price target on Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Barclays reaffirmed an “overweight” rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Scotiabank dropped their target price on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reduced their price target on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $338.73.

Public Storage Trading Up 0.8 %

Shares of Public Storage stock opened at $294.25 on Friday. The company’s fifty day moving average price is $299.91 and its two-hundred day moving average price is $320.03. The firm has a market capitalization of $51.62 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.08%. The ex-dividend date was Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

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.