Amundi Grows Position in Public Storage (NYSE:PSA)

Amundi raised its position in Public Storage (NYSE:PSA - Free Report) by 54.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 779,882 shares of the real estate investment trust's stock after purchasing an additional 273,486 shares during the period. Amundi owned 0.45% of Public Storage worth $230,426,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. M&G PLC acquired a new position in shares of Public Storage during the third quarter valued at about $215,000. Graypoint LLC acquired a new position in Public Storage during the 3rd quarter worth approximately $253,000. Principal Financial Group Inc. boosted its holdings in Public Storage by 1.9% in the third quarter. Principal Financial Group Inc. now owns 214,382 shares of the real estate investment trust's stock worth $78,007,000 after acquiring an additional 3,973 shares in the last quarter. Lindbrook Capital LLC grew its stake in Public Storage by 5.2% in the third quarter. Lindbrook Capital LLC now owns 917 shares of the real estate investment trust's stock valued at $334,000 after acquiring an additional 45 shares during the period. Finally, XML Financial LLC increased its holdings in shares of Public Storage by 1.4% during the third quarter. XML Financial LLC now owns 8,449 shares of the real estate investment trust's stock valued at $3,074,000 after acquiring an additional 113 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Performance

Shares of NYSE:PSA traded down $0.39 during midday trading on Monday, hitting $313.59. The company had a trading volume of 1,060,416 shares, compared to its average volume of 715,820. The company has a market cap of $55.01 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 4.91 and a beta of 0.73. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The company has a fifty day moving average of $299.67 and a two-hundred day moving average of $324.60. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99.

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Public Storage Announces Dividend

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 given a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.83%. Public Storage's payout ratio is currently 112.89%.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the company's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the transaction, the insider now owns 2,364 shares of the company's stock, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 11.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on PSA shares. Royal Bank of Canada lowered 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 report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and increased their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Wells Fargo & Company lowered their target price on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Scotiabank reduced their price target 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, Truist Financial increased their price target 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. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $340.23.

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.