Aviva PLC Has $28.43 Million Stock Holdings in Public Storage (NYSE:PSA)

Aviva PLC boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 35.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,945 shares of the real estate investment trust's stock after buying an additional 25,094 shares during the period. Aviva PLC owned approximately 0.05% of Public Storage worth $28,430,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Quent Capital LLC increased its holdings in shares of Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 50 shares during the period. Synergy Asset Management LLC acquired a new position in Public Storage in the 4th quarter valued at approximately $38,000. Millstone Evans Group LLC bought a new stake in shares of Public Storage in the 4th quarter worth approximately $38,000. Toth Financial Advisory Corp lifted its position in Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock worth $61,000 after purchasing an additional 66 shares during the period. Finally, Parkworth Wealth Management Inc. acquired a new stake in Public Storage during the fourth quarter worth $67,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports 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 research note on Wednesday, February 26th. Mizuho assumed coverage on shares of Public Storage in a research report on Wednesday. They issued a "neutral" rating and a $287.00 price target for the company. Truist Financial raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft raised 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. Finally, Wells Fargo & Company cut their target price on 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 analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $332.08.

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Public Storage Price Performance

Shares of PSA stock traded down $0.67 during trading hours on Friday, hitting $277.40. 316,133 shares of the company's stock were exchanged, compared to its average volume of 729,680. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The stock has a market cap of $48.66 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. 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's 50-day moving average is $297.42 and its 200-day moving average is $314.46.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's dividend payout ratio is currently 112.89%.

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.