Invesco Ltd. Boosts Stock Position in Public Storage (NYSE:PSA)

Invesco Ltd. boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,099,249 shares of the real estate investment trust's stock after acquiring an additional 27,693 shares during the quarter. Invesco Ltd. owned 0.63% of Public Storage worth $329,159,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Polymer Capital Management US LLC purchased a new stake in shares of Public Storage during the fourth quarter valued at $209,000. Aster Capital Management DIFC Ltd boosted its holdings in shares of Public Storage by 245.8% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,850 shares of the real estate investment trust's stock valued at $554,000 after acquiring an additional 1,315 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Public Storage by 25.5% in the fourth quarter. Russell Investments Group Ltd. now owns 999,426 shares of the real estate investment trust's stock worth $299,006,000 after acquiring an additional 202,944 shares during the period. Wedbush Securities Inc. raised its holdings in shares of Public Storage by 12.4% during the fourth quarter. Wedbush Securities Inc. now owns 1,428 shares of the real estate investment trust's stock valued at $428,000 after purchasing an additional 157 shares during the last quarter. Finally, Aviva PLC lifted its position in Public Storage by 35.9% during the fourth quarter. Aviva PLC now owns 94,945 shares of the real estate investment trust's stock valued at $28,430,000 after purchasing an additional 25,094 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

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Public Storage Price Performance

Public Storage stock traded up $1.19 during mid-day trading on Tuesday, hitting $289.92. The stock had a trading volume of 105,947 shares, compared to its average volume of 733,461. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $50.86 billion, a P/E ratio of 30.11, a P/E/G ratio of 4.91 and a beta of 0.76. The firm's 50 day moving average is $296.81 and its 200 day moving average is $313.14.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were issued a $3.00 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.14%. Public Storage's dividend payout ratio is presently 112.89%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PSA. Royal Bank of Canada cut their target price 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 raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a report on Thursday, April 10th. Wells Fargo & Company cut their price target on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Barclays reiterated an "overweight" rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Finally, Mizuho started coverage on shares of Public Storage in a report on Wednesday, April 9th. They set a "neutral" rating and a $287.00 target price for the company. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $332.08.

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.