iA Global Asset Management Inc. Buys 1,402 Shares of Public Storage (NYSE:PSA)

iA Global Asset Management Inc. increased its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 33.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,552 shares of the real estate investment trust's stock after purchasing an additional 1,402 shares during the quarter. iA Global Asset Management Inc.'s holdings in Public Storage were worth $1,662,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Quent Capital LLC boosted its stake in shares of Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after buying an additional 50 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Public Storage during the third quarter worth about $34,000. Synergy Asset Management LLC acquired a new position in Public Storage during the fourth quarter valued at approximately $38,000. Toth Financial Advisory Corp grew its stake in Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock valued at $61,000 after purchasing an additional 66 shares in the last quarter. Finally, McIlrath & Eck LLC increased its position in shares of Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust's stock worth $79,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

NYSE:PSA traded down $5.96 during mid-day trading on Tuesday, hitting $288.97. 610,234 shares of the stock were exchanged, compared to its average volume of 680,385. The firm's 50-day simple moving average is $300.04 and its 200 day simple moving average is $321.10. The stock has a market capitalization of $50.69 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

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Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.15%. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PSA shares. Royal Bank of Canada cut their price objective on Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and increased their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Wells Fargo & Company lowered their price objective on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Scotiabank cut their target price on shares of Public Storage from $338.00 to $333.00 and set a "sector perform" rating for the company in a research note on Wednesday, March 5th. Finally, Barclays reissued an "overweight" rating and set a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $338.00.

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.