Rockefeller Capital Management L.P. Has $6.76 Million Stake in Public Storage (NYSE:PSA)

Rockefeller Capital Management L.P. reduced its stake in shares of Public Storage (NYSE:PSA) by 5.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 18,595 shares of the real estate investment trust’s stock after selling 1,107 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Public Storage were worth $6,762,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 purchasing an additional 1,358,493 shares in the last quarter. FMR LLC increased its holdings in shares of Public Storage by 20.9% during 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 buying an additional 869,066 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Public Storage by 57.3% in the third 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 acquiring an additional 405,847 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Public Storage by 116.7% in the 2nd quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock worth $111,077,000 after acquiring an additional 208,546 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in Public Storage by 1,980.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 144,185 shares of the real estate investment trust’s stock worth $41,475,000 after acquiring an additional 137,256 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PSA has been the topic of a number of recent analyst reports. Scotiabank boosted their price objective on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Jefferies Financial Group increased their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Citigroup increased their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Evercore ISI dropped their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Stock Down 2.3 %

Shares of Public Storage stock opened at $336.09 on Wednesday. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The business has a fifty day simple moving average of $341.82 and a 200 day simple moving average of $320.25. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market cap of $58.85 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 5.72 and a beta of 0.71.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.57%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

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.