Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 23,005 Shares of Public Storage (NYSE:PSA)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Public Storage (NYSE:PSA) by 37.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,964 shares of the real estate investment trust’s stock after purchasing an additional 23,005 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Public Storage were worth $25,442,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PSA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 buying an additional 1,358,493 shares during the last quarter. Adelante Capital Management LLC lifted its holdings in shares of Public Storage by 389.9% in the third quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock worth $532,465,000 after acquiring an additional 1,164,630 shares during the last quarter. FMR LLC lifted its holdings in shares of Public Storage by 20.9% in the third 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 during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Public Storage by 57.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust’s stock valued at $405,278,000 after purchasing an additional 405,847 shares in the last quarter. Finally, Amundi grew its holdings in shares of Public Storage by 54.0% during the 4th quarter. Amundi now owns 779,882 shares of the real estate investment trust’s stock valued at $230,426,000 after purchasing an additional 273,486 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PSA shares. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Wells Fargo & Company cut their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Truist Financial lowered their target price on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a report on Tuesday. Barclays reissued 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, March 12th. Finally, Royal Bank of Canada lowered their price objective on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average price target of $338.00.

Public Storage Stock Performance

Shares of PSA stock opened at $296.12 on Friday. 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 has a one year low of $256.31 and a one year high of $369.99. The business’s 50 day simple moving average is $299.91 and its 200 day simple moving average is $322.48. The stock has a market capitalization of $51.94 billion, a PE ratio of 30.75, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The company also recently disclosed 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 4.05%. The ex-dividend date 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.