Public Storage (NYSE:PSA) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI increased its stake in Public Storage (NYSE:PSA - Free Report) by 32.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 110,760 shares of the real estate investment trust's stock after acquiring an additional 27,215 shares during the quarter. National Bank of Canada FI owned approximately 0.06% of Public Storage worth $33,167,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PSA. Quent Capital LLC lifted its stake in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 50 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the fourth quarter worth approximately $38,000. Millstone Evans Group LLC purchased a new stake in shares of Public Storage during the fourth quarter worth approximately $38,000. Toth Financial Advisory Corp raised its stake in Public Storage by 48.2% in the 4th 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 during the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new position in Public Storage in the 4th quarter valued at $67,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Down 2.5 %

Shares of Public Storage stock traded down $6.98 on Monday, reaching $277.55. The company had a trading volume of 411,276 shares, compared to its average volume of 717,706. The firm's 50 day moving average price is $300.05 and its two-hundred day moving average price is $317.46. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The firm has a market cap of $48.69 billion, a PE ratio of 28.65, a PEG ratio of 4.91 and a beta of 0.76.

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Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.32%. Public Storage's dividend payout ratio is currently 112.89%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PSA. Barclays reiterated an "overweight" rating and issued a $354.00 target price (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Scotiabank lowered their target price on Public Storage from $338.00 to $333.00 and set a "sector perform" rating on the stock in a report on Wednesday, March 5th. Truist Financial cut their price target on Public Storage from $316.00 to $310.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. Royal Bank of Canada lowered their price objective on Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company cut their target price 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. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $338.73.

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.