Machina Capital S.A.S. Buys Shares of 906 Public Storage (NYSE:PSA)

Machina Capital S.A.S. bought a new stake in shares of Public Storage (NYSE:PSA) in the 4th quarter, HoldingsChannel reports. The fund bought 906 shares of the real estate investment trust’s stock, valued at approximately $271,000.

Several other institutional investors have also recently added to or reduced their stakes in PSA. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Public Storage by 5.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock valued at $16,089,000 after acquiring an additional 2,566 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Public Storage by 3,714.6% during the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock valued at $666,000 after acquiring an additional 1,783 shares during the period. Capital Investment Advisors LLC boosted its holdings in shares of Public Storage by 25.4% during the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after acquiring an additional 5,793 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Public Storage by 114.2% during the third 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 acquiring an additional 48,803 shares during the period. Finally, Swedbank AB boosted its holdings in shares of Public Storage by 31.9% during the third quarter. Swedbank AB now owns 154,167 shares of the real estate investment trust’s stock valued at $56,097,000 after acquiring an additional 37,285 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of NYSE PSA opened at $313.99 on Monday. Public Storage has a twelve month low of $256.31 and a twelve month 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 company has a market capitalization of $55.08 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 4.91 and a beta of 0.73. The firm has a 50-day moving average of $299.31 and a two-hundred day moving average of $324.74.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

Analyst Ratings Changes

PSA has been the subject of several analyst reports. Royal Bank of Canada reduced their price target on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Wells Fargo & Company reduced their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Barclays reduced their price objective on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Truist Financial upped their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.23.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.00% of the stock is owned by corporate 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.