Czech National Bank Boosts Holdings in Public Storage (NYSE:PSA)

Czech National Bank boosted its stake in shares of Public Storage (NYSE:PSA - Free Report) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,170 shares of the real estate investment trust's stock after buying an additional 2,083 shares during the quarter. Czech National Bank's holdings in Public Storage were worth $10,232,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its position in shares of Public Storage by 1.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust's stock worth $51,762,000 after acquiring an additional 2,605 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Public Storage by 114.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust's stock worth $33,302,000 after purchasing an additional 48,803 shares during the period. Larson Financial Group LLC increased its holdings in Public Storage by 3,714.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust's stock worth $666,000 after purchasing an additional 1,783 shares during the period. Handelsbanken Fonder AB raised its position in Public Storage by 4.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 72,741 shares of the real estate investment trust's stock valued at $26,468,000 after purchasing an additional 2,832 shares in the last quarter. Finally, Equitable Trust Co. lifted its holdings in shares of Public Storage by 3.1% in the 3rd quarter. Equitable Trust Co. now owns 77,959 shares of the real estate investment trust's stock worth $28,367,000 after buying an additional 2,344 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Down 0.0 %

NYSE:PSA traded down $0.09 during mid-day trading on Tuesday, hitting $290.15. 875,527 shares of the company's stock traded hands, compared to its average volume of 704,566. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $50.81 billion, a P/E ratio of 30.13, a P/E/G ratio of 5.29 and a beta of 0.74. The company has a fifty day moving average of $320.23 and a 200 day moving average of $325.68. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $3.00 per share. The ex-dividend date was Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.14%. Public Storage's payout ratio is 124.61%.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 450 shares of the firm'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 transaction, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 11.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PSA. Deutsche Bank Aktiengesellschaft upgraded 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 research note on Friday. Jefferies Financial Group boosted their price target on shares of Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Wells Fargo & Company lowered their price target on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Royal Bank of Canada cut their price objective on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. Finally, Barclays lowered their target price on Public Storage from $380.00 to $361.00 and set an "overweight" rating for the company in a report on Monday. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Public Storage currently has a consensus rating of "Moderate Buy" and an average target price of $344.54.

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.