Vinva Investment Management Ltd Buys 736 Shares of Public Storage (NYSE:PSA)

Vinva Investment Management Ltd increased its stake in Public Storage (NYSE:PSA) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,002 shares of the real estate investment trust’s stock after buying an additional 736 shares during the quarter. Vinva Investment Management Ltd’s holdings in Public Storage were worth $2,367,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Doliver Advisors LP lifted its position in Public Storage by 2.6% in the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust’s stock worth $433,000 after buying an additional 36 shares during the last quarter. Brooklyn Investment Group increased its stake in Public Storage by 3.4% in the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock worth $345,000 after purchasing an additional 38 shares during the period. Werba Rubin Papier Wealth Management increased its stake in Public Storage by 1.7% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock worth $681,000 after purchasing an additional 38 shares during the period. Continuum Advisory LLC increased its stake in Public Storage by 7.6% in the third quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 39 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in Public Storage by 2.4% in the third quarter. TD Private Client Wealth LLC now owns 1,695 shares of the real estate investment trust’s stock worth $617,000 after purchasing an additional 39 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of recent analyst reports. Scotiabank reduced their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Truist Financial reduced their target price on Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Wells Fargo & Company reduced 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. Finally, Barclays reiterated an “overweight” rating and issued a $354.00 target price (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $338.00.

Public Storage Price Performance

Shares of PSA stock opened at $295.57 on Thursday. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The stock’s 50-day moving average is $299.90 and its 200 day moving average is $322.67. The company has a market cap of $51.85 billion, a P/E ratio of 30.69, a PEG ratio of 4.91 and a beta of 0.73. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s payout ratio is currently 112.89%.

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.