Andra AP fonden Has $18.84 Million Holdings in Public Storage (NYSE:PSA)

Andra AP fonden boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 39.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,900 shares of the real estate investment trust's stock after acquiring an additional 17,900 shares during the quarter. Andra AP fonden's holdings in Public Storage were worth $18,835,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Public Storage by 732.9% in 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 valued at $561,763,000 after purchasing an additional 1,358,493 shares in the last quarter. Adelante Capital Management LLC lifted its holdings in Public Storage by 389.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust's stock valued at $532,465,000 after purchasing an additional 1,164,630 shares during the last quarter. FMR LLC boosted its position in Public Storage by 20.9% in the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust's stock valued at $1,828,763,000 after buying an additional 869,066 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Public Storage by 57.3% during the third quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust's stock worth $405,278,000 after buying an additional 405,847 shares in the last quarter. Finally, Aew Capital Management L P raised its stake in shares of Public Storage by 108.6% in the fourth 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 acquiring an additional 228,740 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

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Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total value 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. This represents a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 11.10% of the company's stock.

Public Storage Trading Down 1.6 %

Shares of Public Storage stock traded down $4.82 on Wednesday, hitting $303.39. 512,233 shares of the company's stock traded hands, compared to its average volume of 716,617. The firm's 50-day moving average price is $299.84 and its two-hundred day moving average price is $324.37. 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 stock has a market capitalization of $53.22 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. Public Storage has a one year low of $256.31 and a one year high of $369.99.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.96%. Public Storage's dividend payout ratio is presently 112.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PSA shares. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and raised their price target for the company 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. Royal Bank of Canada reduced their price target on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. Barclays reissued an "overweight" rating and set a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a report on Wednesday. Finally, 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. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Public Storage has an average rating of "Moderate Buy" and an average price target of $339.69.

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.