Aware Super Pty Ltd as trustee of Aware Super Makes New Investment in Public Storage (NYSE:PSA)

Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Public Storage (NYSE:PSA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,036 shares of the real estate investment trust's stock, valued at approximately $2,706,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Public Storage during the fourth quarter worth $931,286,000. Cohen & Steers Inc. grew its holdings in shares of Public Storage by 12.3% in the 4th quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock worth $1,626,731,000 after purchasing an additional 592,944 shares during the last quarter. Amundi increased its position in shares of Public Storage by 54.0% during the 4th quarter. Amundi now owns 779,882 shares of the real estate investment trust's stock worth $230,426,000 after purchasing an additional 273,486 shares in the last quarter. Aew Capital Management L P lifted its holdings in Public Storage by 108.6% during the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust's stock valued at $131,574,000 after purchasing an additional 228,740 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Public Storage in the fourth quarter valued at about $66,253,000. Institutional investors own 78.79% of the company's stock.

Public Storage Trading Up 2.3 %

Shares of Public Storage stock traded up $6.72 during trading on Friday, reaching $295.75. 741,372 shares of the company were exchanged, compared to its average volume of 735,931. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The business has a 50-day moving average price of $295.93 and a 200-day moving average price of $311.30. 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 firm has a market capitalization of $51.88 billion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 4.91 and a beta of 0.76.

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 paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.06%. The ex-dividend date was Thursday, March 13th. Public Storage's payout ratio is 112.89%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. 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 for the company in a report on Wednesday, February 26th. Barclays reiterated an "overweight" rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. 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 report on Friday, January 10th. Mizuho assumed coverage on Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price target for the company. Finally, Wells Fargo & Company lowered their price objective on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $332.08.

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.