BI Asset Management Fondsmaeglerselskab A S Purchases 1,146 Shares of Public Storage (NYSE:PSA)

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Public Storage (NYSE:PSA) by 21.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,603 shares of the real estate investment trust’s stock after acquiring an additional 1,146 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Public Storage were worth $1,977,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Barclays PLC raised its holdings in shares of Public Storage by 2.9% in the third quarter. Barclays PLC now owns 465,653 shares of the real estate investment trust’s stock valued at $169,433,000 after buying an additional 13,065 shares during the last quarter. McIlrath & Eck LLC grew its holdings in Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 43 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Public Storage in the 3rd quarter valued at about $3,713,000. Wilmington Savings Fund Society FSB bought a new position in shares of Public Storage in the third quarter worth about $1,466,000. Finally, Tidal Investments LLC lifted its position in shares of Public Storage by 30.3% during the third quarter. Tidal Investments LLC now owns 11,386 shares of the real estate investment trust’s stock worth $4,143,000 after purchasing an additional 2,646 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Down 2.9 %

Public Storage stock opened at $287.55 on Tuesday. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $50.44 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 4.91 and a beta of 0.76. The company’s 50 day simple moving average is $295.68 and its 200 day simple moving average is $310.89.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

Analysts Set New Price Targets

PSA has been the subject of a number of research reports. Scotiabank raised shares of Public Storage from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the company from $333.00 to $305.00 in a report on Wednesday, April 9th. Barclays reissued an “overweight” rating and issued a $354.00 target price (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Wells Fargo & Company dropped their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada decreased their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Finally, Truist Financial upgraded Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a research report on Thursday, April 10th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.08.

About Public Storage

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.