Public Storage (NYSE:PSA) Shares Purchased by American Assets Capital Advisers LLC

American Assets Capital Advisers LLC lifted its stake in Public Storage (NYSE:PSA - Free Report) by 63.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,225 shares of the real estate investment trust's stock after buying an additional 1,646 shares during the quarter. American Assets Capital Advisers LLC's holdings in Public Storage were worth $1,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSA. State Street Corp boosted its stake in shares of Public Storage by 0.5% during the 3rd quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust's stock worth $3,773,571,000 after acquiring an additional 55,123 shares in the last quarter. FMR LLC boosted its position in 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 purchasing an additional 869,066 shares in the last quarter. Geode Capital Management LLC grew its holdings in Public Storage by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust's stock valued at $1,425,941,000 after purchasing an additional 52,807 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Public Storage by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust's stock valued at $1,023,080,000 after buying an additional 54,992 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 buying an additional 1,358,493 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several brokerages recently commented on PSA. Scotiabank cut their price target on shares of Public Storage from $338.00 to $333.00 and set a "sector perform" rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada cut their target price on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price target 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. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and increased their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Truist Financial lowered their price target on Public Storage from $316.00 to $310.00 and set a "hold" rating on the stock in a research note on Tuesday. Seven 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 MarketBeat.com, Public Storage has a consensus rating of "Moderate Buy" and an average price target of $338.00.

Public Storage Trading Up 0.2 %

Shares of PSA traded up $0.50 during mid-day trading on Thursday, reaching $296.12. The stock had a trading volume of 692,821 shares, compared to its average volume of 675,643. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The firm has a market cap of $51.94 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 4.91 and a beta of 0.73. The business's fifty day moving average is $299.90 and its 200 day moving average is $322.67. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 4.05%. Public Storage's dividend payout ratio is currently 112.89%.

Public Storage 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.