Chesapeake Capital Corp IL Has $309,000 Position in Public Storage (NYSE:PSA)

Chesapeake Capital Corp IL lowered its holdings in Public Storage (NYSE:PSA) by 56.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,032 shares of the real estate investment trust’s stock after selling 1,322 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Public Storage were worth $309,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSA. Quent Capital LLC boosted its stake in 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 purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Public Storage during the third quarter worth $34,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage during the fourth quarter worth $38,000. Toth Financial Advisory Corp raised its position in shares of Public Storage by 48.2% during the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 66 shares during the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in shares of Public Storage during the fourth quarter worth $67,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of recent research reports. Scotiabank dropped their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Royal Bank of Canada dropped their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company dropped their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Truist Financial dropped their target price on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $337.38.

Public Storage Trading Down 0.7 %

NYSE:PSA opened at $298.27 on Wednesday. The firm has a market capitalization of $52.32 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 4.91 and a beta of 0.73. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The business’s 50-day moving average price is $299.89 and its two-hundred day moving average price is $322.86. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio is currently 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.