Board of the Pension Protection Fund Purchases New Holdings in Public Storage (NYSE:PSA)

Board of the Pension Protection Fund purchased a new stake in shares of Public Storage (NYSE:PSA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,700 shares of the real estate investment trust's stock, valued at approximately $808,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSA. Prospera Private Wealth LLC bought a new stake in shares of Public Storage in the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Storage in the third quarter worth approximately $38,000. Compagnie Lombard Odier SCmA bought a new stake in Public Storage in the third quarter valued at approximately $50,000. Harbor Capital Advisors Inc. acquired a new stake in Public Storage during the 3rd quarter valued at approximately $55,000. Finally, Versant Capital Management Inc raised its holdings in Public Storage by 301.7% during the 4th quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 178 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

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 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 sale, the insider now owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 11.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on PSA. Barclays reduced their price objective on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a research note on Monday. Truist Financial increased their price target on Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. Wells Fargo & Company dropped their price objective on Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and raised their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Jefferies Financial Group boosted their price target on Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Public Storage currently has an average rating of "Moderate Buy" and a consensus price target of $344.54.

Public Storage Stock Up 0.2 %

PSA traded up $0.46 during trading on Wednesday, hitting $290.44. 782,690 shares of the company's stock were exchanged, compared to its average volume of 722,466. The stock has a market cap of $50.86 billion, a P/E ratio of 30.16, a PEG ratio of 5.29 and a beta of 0.74. The business's 50 day moving average is $319.23 and its two-hundred day moving average is $325.70. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 4.13%. Public Storage's payout ratio is 124.61%.

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.