Barrow Hanley Mewhinney & Strauss LLC Purchases 96,627 Shares of Public Storage $PSA

Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Public Storage (NYSE:PSA) by 5.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,940,574 shares of the real estate investment trust’s stock after buying an additional 96,627 shares during the quarter. Public Storage makes up 1.8% of Barrow Hanley Mewhinney & Strauss LLC’s holdings, making the stock its 16th largest holding. Barrow Hanley Mewhinney & Strauss LLC owned 1.11% of Public Storage worth $560,535,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC raised its stake in Public Storage by 13.3% during the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after purchasing an additional 373 shares during the period. Sivia Capital Partners LLC bought a new position in Public Storage in the 2nd quarter worth approximately $929,000. AE Wealth Management LLC grew its holdings in Public Storage by 4.7% during the 2nd quarter. AE Wealth Management LLC now owns 1,630 shares of the real estate investment trust’s stock valued at $478,000 after buying an additional 73 shares in the last quarter. Profund Advisors LLC raised its position in shares of Public Storage by 7.7% during the second quarter. Profund Advisors LLC now owns 2,324 shares of the real estate investment trust’s stock valued at $682,000 after buying an additional 166 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Public Storage by 8.1% during the second quarter. ProShare Advisors LLC now owns 32,585 shares of the real estate investment trust’s stock valued at $9,561,000 after buying an additional 2,448 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PSA shares. Bank of America lowered Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective for the company. in a research report on Thursday, February 5th. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Truist Financial raised their price target on Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. BMO Capital Markets reduced their price objective on Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a research note on Monday, December 22nd. Finally, Morgan Stanley started coverage on Public Storage in a research report on Friday, December 5th. They set an “equal weight” rating and a $290.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $307.13.

Public Storage Trading Down 0.2%

Shares of NYSE PSA opened at $305.95 on Wednesday. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $314.31. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $53.70 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 6.21 and a beta of 0.99. The business’s 50 day moving average price is $288.77 and its 200-day moving average price is $284.60.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 annualized dividend and a yield of 3.9%. Public Storage’s dividend payout ratio is 133.04%.

About Public Storage

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.