Erste Asset Management GmbH bought a new stake in shares of Public Storage (NYSE:PSA - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 22,900 shares of the real estate investment trust's stock, valued at approximately $8,167,000.
Other large investors have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Public Storage by 20.9% in the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust's stock valued at $1,828,763,000 after buying an additional 869,066 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Public Storage by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust's stock valued at $1,023,080,000 after buying an additional 54,992 shares in the last quarter. APG Asset Management US Inc. raised its stake in shares of Public Storage by 4.8% in the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust's stock valued at $623,485,000 after buying an additional 100,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Public Storage by 732.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust's stock valued at $561,763,000 after buying an additional 1,358,493 shares in the last quarter. Finally, Adelante Capital Management LLC raised its stake in shares of Public Storage by 389.9% in the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust's stock valued at $532,465,000 after buying an additional 1,164,630 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Public Storage to a "strong-buy" rating in a research note on Wednesday, September 4th. Jefferies Financial Group increased their target price on shares of Public Storage from $360.00 to $422.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Wells Fargo & Company dropped their target price 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. Scotiabank increased their target price on shares of Public Storage from $308.00 to $339.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 22nd. Finally, Citigroup increased their target price on shares of Public Storage from $303.00 to $378.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $339.64.
Read Our Latest Stock Analysis on PSA
Public Storage Trading Down 0.6 %
Shares of NYSE:PSA traded down $2.14 during mid-day trading on Monday, reaching $345.91. The stock had a trading volume of 235,810 shares, compared to its average volume of 712,738. The firm has a market cap of $60.57 billion, a PE ratio of 36.14, a price-to-earnings-growth ratio of 5.79 and a beta of 0.70. The firm has a 50 day simple moving average of $342.76 and a two-hundred day simple moving average of $319.51. 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 twelve month low of $256.31 and a twelve month high of $369.99.
Public Storage Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.47%. Public Storage's dividend payout ratio is 124.61%.
About Public Storage
(
Free Report)
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.
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