Machina Capital S.A.S. Takes Position in Public Storage (NYSE:PSA)

Machina Capital S.A.S. purchased a new stake in Public Storage (NYSE:PSA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 906 shares of the real estate investment trust's stock, valued at approximately $271,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Haverford Trust Co increased its stake in Public Storage by 0.7% in the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust's stock valued at $1,558,000 after acquiring an additional 30 shares during the last quarter. Huntington National Bank increased its stake in Public Storage by 5.4% in the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 33 shares during the last quarter. Chesapeake Wealth Management increased its stake in Public Storage by 2.2% in the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust's stock valued at $560,000 after acquiring an additional 33 shares during the last quarter. Lindenwold Advisors INC increased its stake in Public Storage by 0.8% in the third quarter. Lindenwold Advisors INC now owns 4,390 shares of the real estate investment trust's stock valued at $1,597,000 after acquiring an additional 34 shares during the last quarter. Finally, Doliver Advisors LP increased its stake 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 valued at $433,000 after acquiring an additional 36 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the sale, the insider now directly owns 2,364 shares of the company's stock, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PSA. Wells Fargo & Company decreased their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Barclays reaffirmed an "overweight" rating and set a $354.00 target price (down previously from $361.00) on shares of Public Storage in a research note on Wednesday. Truist Financial boosted their target price on shares of Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research note on Thursday, December 5th. Scotiabank decreased their target price on shares of 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and boosted their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage currently has an average rating of "Moderate Buy" and a consensus target price of $339.69.

Public Storage Stock Down 1.6 %

Shares of NYSE PSA traded down $4.82 during trading on Wednesday, hitting $303.39. 834,417 shares of the company traded hands, compared to its average volume of 725,615. The business's fifty day moving average is $299.92 and its 200 day moving average is $324.23. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The firm has a market capitalization of $53.22 billion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 4.91 and a beta of 0.73. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.96%. Public Storage's dividend 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.