Public Storage (NYSE:PSA) Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its position in Public Storage (NYSE:PSA - Free Report) by 21.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,603 shares of the real estate investment trust's stock after purchasing an additional 1,146 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Public Storage were worth $1,977,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Quent Capital LLC boosted its stake in Public Storage by 135.1% in 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 in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Public Storage during the fourth quarter worth $32,000. Synergy Asset Management LLC purchased a new stake in shares of Public Storage during the fourth quarter valued at $38,000. Millstone Evans Group LLC acquired a new position in shares of Public Storage in the 4th quarter valued at $38,000. Finally, Bridge Generations Wealth Management LLC purchased a new position in Public Storage in the 4th quarter worth $56,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Mizuho started coverage on shares of Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price target on the stock. Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective on the stock in a research note on Thursday, April 10th. Royal Bank of Canada decreased 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 report on Wednesday, February 26th. Wells Fargo & Company reduced their price objective 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and upped their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Public Storage presently has a consensus rating of "Moderate Buy" and an average price target of $336.25.

Public Storage Price Performance

Shares of PSA stock traded down $2.94 during trading hours on Friday, hitting $290.85. 909,822 shares of the company's stock were exchanged, compared to its average volume of 737,377. 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 cap of $51.02 billion, a P/E ratio of 30.20, a P/E/G ratio of 4.91 and a beta of 0.76. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a 50 day moving average of $295.45 and a two-hundred day moving average of $310.32.

Public Storage Announces Dividend

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 annualized dividend and a yield of 4.13%. The ex-dividend date was Thursday, March 13th. Public Storage's payout ratio is 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.