Allspring Global Investments Holdings LLC Sells 233,494 Shares of Public Storage $PSA

Allspring Global Investments Holdings LLC lessened its stake in shares of Public Storage (NYSE:PSA) by 88.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 29,792 shares of the real estate investment trust’s stock after selling 233,494 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Public Storage were worth $7,699,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Financial Planning Hawaii Inc. bought a new stake in shares of Public Storage in the fourth quarter worth about $384,000. Columbus Macro LLC grew its position in Public Storage by 35.8% in the 4th quarter. Columbus Macro LLC now owns 36,739 shares of the real estate investment trust’s stock valued at $9,534,000 after acquiring an additional 9,691 shares during the last quarter. Cascade Investment Advisors Inc. grew its position in Public Storage by 3.1% in the 4th quarter. Cascade Investment Advisors Inc. now owns 4,649 shares of the real estate investment trust’s stock valued at $1,206,000 after acquiring an additional 140 shares during the last quarter. InTrack Investment Management Inc grew its position in Public Storage by 9.8% in the 4th quarter. InTrack Investment Management Inc now owns 2,579 shares of the real estate investment trust’s stock valued at $669,000 after acquiring an additional 230 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its position in Public Storage by 3.6% in the 4th quarter. Capital Investment Advisors LLC now owns 38,372 shares of the real estate investment trust’s stock valued at $9,957,000 after acquiring an additional 1,342 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Up 0.3%

Shares of NYSE PSA opened at $281.13 on Tuesday. Public Storage has a 52-week low of $256.54 and a 52-week high of $312.95. The business’s 50 day moving average is $289.07 and its two-hundred day moving average is $282.95. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05. The firm has a market cap of $49.34 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 5.75 and a beta of 1.02.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, March 16th. Public Storage’s dividend payout ratio is currently 133.04%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. UBS Group dropped their price objective on Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Scotiabank increased their price objective on Public Storage from $319.00 to $321.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 23rd. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a report on Sunday, March 29th. BMO Capital Markets restated a “market perform” rating on shares of Public Storage in a report on Monday, March 16th. Finally, Deutsche Bank Aktiengesellschaft lowered Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price objective for the company. in a report on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $306.53.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.