Public Storage (NYSE:PSA) Shares Bought by HUB Investment Partners LLC

HUB Investment Partners LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,365 shares of the real estate investment trust’s stock after buying an additional 50 shares during the quarter. HUB Investment Partners LLC’s holdings in Public Storage were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC grew its holdings in Public Storage by 9.5% during the 3rd quarter. Empowered Funds LLC now owns 2,530 shares of the real estate investment trust’s stock worth $921,000 after acquiring an additional 220 shares in the last quarter. Caprock Group LLC grew its stake in Public Storage by 52.0% in the third quarter. Caprock Group LLC now owns 3,056 shares of the real estate investment trust’s stock worth $1,112,000 after purchasing an additional 1,046 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Public Storage in the third quarter valued at about $1,415,000. Prospera Private Wealth LLC acquired a new stake in Public Storage during the third quarter valued at approximately $34,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Public Storage by 114.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock worth $33,302,000 after buying an additional 48,803 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PSA shares. Barclays reiterated an “overweight” rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Wells Fargo & Company dropped their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada dropped their price objective on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Truist Financial decreased their target price on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $338.00.

Public Storage Trading Down 1.8 %

NYSE PSA opened at $291.19 on Friday. The firm’s 50 day moving average price is $299.96 and its two-hundred day moving average price is $322.12. 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 twelve month low of $256.31 and a twelve month high of $369.99. The stock has a market cap of $51.08 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.12%. Public Storage’s payout ratio is 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.