Flputnam Investment Management Co. Has $23.83 Million Stake in Public Storage (NYSE:PSA)

Flputnam Investment Management Co. increased its holdings in Public Storage (NYSE:PSA - Free Report) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,564 shares of the real estate investment trust's stock after buying an additional 1,763 shares during the quarter. Flputnam Investment Management Co.'s holdings in Public Storage were worth $23,825,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PSA. State Street Corp grew its position in Public Storage by 0.5% in the 3rd quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust's stock valued at $3,773,571,000 after buying an additional 55,123 shares in the last quarter. FMR LLC boosted its stake in Public Storage by 20.9% during the third 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. Geode Capital Management LLC grew its holdings in Public Storage by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust's stock worth $1,425,941,000 after acquiring an additional 52,807 shares during the period. Charles Schwab Investment Management Inc. raised its position in Public Storage by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust's stock worth $1,023,080,000 after acquiring an additional 54,992 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 acquiring an additional 1,358,493 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Down 1.2 %

Shares of Public Storage stock traded down $3.68 on Tuesday, hitting $307.37. The company had a trading volume of 859,459 shares, compared to its average volume of 688,450. The stock has a 50-day moving average of $298.53 and a 200-day moving average of $325.14. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The firm has a market capitalization of $53.92 billion, a P/E ratio of 31.98, a P/E/G ratio of 4.91 and a beta of 0.74.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.90%. The ex-dividend date is Thursday, March 13th. Public Storage's payout ratio is 112.89%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PSA. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and boosted their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada reduced their price target 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. Truist Financial lifted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Barclays reduced 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, January 13th. Finally, Wells Fargo & Company dropped their target price on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Seven investment 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $340.69.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage 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 sale, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.00% of the company's stock.

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.