Public Storage (NYSE:PSA) Shares Purchased by Midwest Professional Planners LTD.

Midwest Professional Planners LTD. increased its position in shares of Public Storage (NYSE:PSA) by 7.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,865 shares of the real estate investment trust’s stock after acquiring an additional 489 shares during the period. Midwest Professional Planners LTD.’s holdings in Public Storage were worth $2,056,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in Public Storage by 0.5% during the 3rd quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock worth $3,773,571,000 after acquiring an additional 55,123 shares in the last quarter. FMR LLC lifted its stake in Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after acquiring an additional 869,066 shares in the last quarter. Geode Capital Management LLC lifted its stake in Public Storage by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock worth $1,425,941,000 after acquiring an additional 52,807 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Public Storage by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock worth $1,023,080,000 after acquiring an additional 54,992 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Public Storage by 732.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock worth $561,763,000 after acquiring an additional 1,358,493 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PSA. Wells Fargo & Company decreased their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Barclays reaffirmed an “overweight” rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research report on Wednesday. Royal Bank of Canada reduced their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Truist Financial increased their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Seven 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. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and an average price target of $339.69.

Public Storage Price Performance

Shares of NYSE PSA opened at $292.66 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The firm has a market capitalization of $51.34 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The stock’s 50-day simple moving average is $299.84 and its 200-day simple moving average is $324.01.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

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.