Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Position in Public Storage (NYSE:PSA)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Public Storage (NYSE:PSA - Free Report) by 37.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,964 shares of the real estate investment trust's stock after acquiring an additional 23,005 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Public Storage were worth $25,442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Doliver Advisors LP raised its stake in shares of Public Storage by 2.6% in the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust's stock valued at $433,000 after acquiring an additional 36 shares in the last quarter. Brooklyn Investment Group raised its position in Public Storage by 3.4% in the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock valued at $345,000 after purchasing an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management boosted its stake in shares of Public Storage by 1.7% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock valued at $681,000 after buying an additional 38 shares during the period. Continuum Advisory LLC grew its position in shares of Public Storage by 7.6% during the third quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust's stock worth $182,000 after buying an additional 39 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its stake in shares of Public Storage by 2.4% during the third quarter. TD Private Client Wealth LLC now owns 1,695 shares of the real estate investment trust's stock worth $617,000 after buying an additional 39 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

PSA has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Public Storage from $316.00 to $310.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. Scotiabank decreased their price objective on shares of Public Storage from $338.00 to $333.00 and set a "sector perform" rating for the company in a research report on Wednesday, March 5th. Royal Bank of Canada dropped their target price on Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Barclays reaffirmed an "overweight" rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and increased their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $338.00.

Public Storage Stock Performance

Shares of NYSE PSA traded down $5.96 during trading hours on Tuesday, reaching $288.97. The stock had a trading volume of 610,234 shares, compared to its average volume of 679,504. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The firm has a 50-day moving average of $300.07 and a 200-day moving average of $321.50. The firm has a market cap of $50.69 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Announces Dividend

The firm also recently announced 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 4.15%. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

About Public Storage

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.