Czech National Bank Grows Holdings in Public Storage (NYSE:PSA)

Czech National Bank grew its stake in shares of Public Storage (NYSE:PSA) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,170 shares of the real estate investment trust’s stock after buying an additional 2,083 shares during the quarter. Czech National Bank’s holdings in Public Storage were worth $10,232,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PSA. Allspring Global Investments Holdings LLC raised its position in Public Storage by 1.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock valued at $51,762,000 after purchasing an additional 2,605 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Public Storage by 114.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock valued at $33,302,000 after buying an additional 48,803 shares in the last quarter. Larson Financial Group LLC lifted its position in Public Storage by 3,714.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 1,783 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in Public Storage by 4.1% in the third quarter. Handelsbanken Fonder AB now owns 72,741 shares of the real estate investment trust’s stock worth $26,468,000 after buying an additional 2,832 shares in the last quarter. Finally, Equitable Trust Co. grew its position in Public Storage by 3.1% during the third quarter. Equitable Trust Co. now owns 77,959 shares of the real estate investment trust’s stock valued at $28,367,000 after acquiring an additional 2,344 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Jefferies Financial Group raised their price objective on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Truist Financial boosted their target price on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Barclays reduced their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their price objective for the company from $298.00 to $299.00 in a research report on Friday. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and an average target price of $344.54.

Public Storage Trading Up 0.3 %

Shares of PSA opened at $290.00 on Tuesday. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. 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 firm’s 50-day moving average price is $320.23 and its 200-day moving average price is $325.68. The firm has a market capitalization of $50.78 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 5.29 and a beta of 0.74.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s dividend payout ratio is currently 124.61%.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the sale, the insider now directly owns 2,364 shares of the company’s stock, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.00% of the stock is currently owned by company insiders.

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.