Public Storage (NYSE:PSA) Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. increased its stake in shares of Public Storage (NYSE:PSA) by 1,360.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,256 shares of the real estate investment trust’s stock after buying an additional 1,170 shares during the period. Meeder Asset Management Inc.’s holdings in Public Storage were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its position in shares of Public Storage by 2,710.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 281 shares of the real estate investment trust’s stock valued at $84,000 after acquiring an additional 271 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Public Storage by 39.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 27,000 shares of the real estate investment trust’s stock worth $8,085,000 after purchasing an additional 7,589 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new position in Public Storage during the fourth quarter worth $125,000. Schroder Investment Management Group boosted its position in Public Storage by 9.1% during the fourth quarter. Schroder Investment Management Group now owns 327,243 shares of the real estate investment trust’s stock worth $96,802,000 after purchasing an additional 27,184 shares in the last quarter. Finally, L & S Advisors Inc grew its holdings in Public Storage by 2.1% in the fourth quarter. L & S Advisors Inc now owns 11,359 shares of the real estate investment trust’s stock valued at $3,401,000 after purchasing an additional 237 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on PSA. Royal Bank of Canada decreased 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 report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Barclays restated an “overweight” rating and set a $354.00 price objective (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Scotiabank lowered their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Finally, Wells Fargo & Company cut their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $338.73.

Public Storage Stock Performance

NYSE PSA opened at $299.37 on Tuesday. The business’s 50-day moving average price is $299.97 and its 200 day moving average price is $319.33. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a market capitalization of $52.51 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were given a $3.00 dividend. The ex-dividend date was Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.01%. Public Storage’s dividend payout ratio is presently 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.