Achmea Investment Management B.V. Buys 10,181 Shares of Public Storage (NYSE:PSA)

Achmea Investment Management B.V. raised its stake in Public Storage (NYSE:PSA) by 26.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,427 shares of the real estate investment trust’s stock after acquiring an additional 10,181 shares during the period. Achmea Investment Management B.V.’s holdings in Public Storage were worth $14,501,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quent Capital LLC increased its holdings in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Public Storage in the 3rd quarter worth $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Public Storage in the 3rd quarter worth $38,000. Synergy Asset Management LLC purchased a new position in shares of Public Storage in the 4th quarter worth $38,000. Finally, Toth Financial Advisory Corp grew its stake in shares of Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 66 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 11.10% of the company’s stock.

Public Storage Trading Down 1.6 %

Shares of PSA opened at $303.39 on Thursday. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a 50-day moving average of $299.92 and a 200 day moving average of $324.23. The firm has a market capitalization of $53.22 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 4.91 and a beta of 0.73. 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 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 issued a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.96%. Public Storage’s dividend payout ratio is currently 112.89%.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of recent research reports. Scotiabank dropped their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Wells Fargo & Company dropped their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Barclays reaffirmed an “overweight” rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a research note on Wednesday. Finally, Truist Financial lifted their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $339.69.

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.