Public Storage (NYSE:PSA) Shares Acquired by KBC Group NV

KBC Group NV raised its position in Public Storage (NYSE:PSA - Free Report) by 54.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 274,707 shares of the real estate investment trust's stock after buying an additional 96,494 shares during the period. KBC Group NV owned about 0.16% of Public Storage worth $99,958,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PSA. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage in the third quarter worth approximately $38,000. OFI Invest Asset Management acquired a new stake in Public Storage during the 2nd quarter worth $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Public Storage during the second quarter worth $36,000. Crewe Advisors LLC acquired a new stake in shares of Public Storage in the first quarter valued at about $39,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Public Storage in the second quarter valued at about $39,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Trading Down 0.5 %

Shares of PSA traded down $1.67 during trading on Thursday, reaching $333.27. 299,595 shares of the company traded hands, compared to its average volume of 715,972. The stock has a 50-day simple moving average of $346.40 and a 200-day simple moving average of $313.25. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a twelve month low of $251.49 and a twelve month high of $369.99. The stock has a market cap of $58.36 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 4.66 and a beta of 0.70.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage's payout ratio is 124.61%.

Analyst Upgrades and Downgrades

PSA has been the subject of several research reports. Wells Fargo & Company dropped their price objective on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Evercore ISI cut their price target on Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a report on Monday, October 14th. Royal Bank of Canada lowered their price objective on Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Scotiabank raised their target price on Public Storage from $308.00 to $339.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley boosted their price target on shares of Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $339.64.

Public Storage Company 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.