Mutual of America Capital Management LLC Has $7.06 Million Position in Public Storage (NYSE:PSA)

Mutual of America Capital Management LLC trimmed its position in shares of Public Storage (NYSE:PSA - Free Report) by 12.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,396 shares of the real estate investment trust's stock after selling 2,671 shares during the quarter. Mutual of America Capital Management LLC's holdings in Public Storage were worth $7,058,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in Public Storage by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust's stock worth $1,575,794,000 after purchasing an additional 219,391 shares during the period. APG Asset Management US Inc. lifted its stake in 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 purchasing an additional 100,000 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Public Storage by 8.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust's stock valued at $343,968,000 after purchasing an additional 95,080 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Public Storage by 9.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 707,952 shares of the real estate investment trust's stock valued at $203,642,000 after purchasing an additional 62,784 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC lifted its stake in Public Storage by 3.4% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 541,835 shares of the real estate investment trust's stock valued at $157,165,000 after purchasing an additional 17,701 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Price Performance

NYSE PSA traded down $1.33 during trading on Tuesday, hitting $335.96. 269,067 shares of the company's stock were exchanged, compared to its average volume of 714,295. The company has a market cap of $58.83 billion, a PE ratio of 35.12, a P/E/G ratio of 5.57 and a beta of 0.70. 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 fifty-two week low of $251.49 and a fifty-two week high of $369.99. The stock's 50 day moving average price is $345.71 and its two-hundred day moving average price is $315.16.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage's dividend payout ratio is 124.61%.

Analyst Upgrades and Downgrades

PSA has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Morgan Stanley increased their price target on shares of Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a report on Wednesday, October 2nd. Jefferies Financial Group increased their price target on shares of Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Citigroup increased their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a report on Friday, August 30th. Finally, Bank of America cut shares of Public Storage from a "buy" rating to a "neutral" rating and set a $318.00 target price on the stock. in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $339.64.

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.