Natixis Advisors LLC Buys 15,318 Shares of Public Storage (NYSE:PSA)

Natixis Advisors LLC raised its stake in shares of Public Storage (NYSE:PSA - Free Report) by 24.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,276 shares of the real estate investment trust's stock after buying an additional 15,318 shares during the period. Natixis Advisors LLC's holdings in Public Storage were worth $23,439,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Quent Capital LLC increased its holdings 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 valued at $26,000 after acquiring an additional 50 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Public Storage during the third quarter valued at approximately $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 raised its position in shares of 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 during the period. Finally, Parkworth Wealth Management Inc. bought a new stake in shares of Public Storage during the 4th quarter worth $67,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Price Performance

Shares of PSA stock traded down $5.30 during mid-day trading on Friday, reaching $291.19. The company's stock had a trading volume of 1,421,670 shares, compared to its average volume of 679,266. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm's 50-day moving average is $299.91 and its two-hundred day moving average is $322.48. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a market cap of $51.08 billion, a P/E ratio of 30.24, a PEG ratio of 4.91 and a beta of 0.73.

Remove Ads

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 given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

Analysts Set New Price Targets

PSA has been the topic of several recent analyst reports. Truist Financial dropped their target price on shares of Public Storage from $316.00 to $310.00 and set a "hold" rating on the stock in a report on Tuesday. Scotiabank dropped their price objective on Public Storage from $338.00 to $333.00 and set a "sector perform" rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada decreased their target price on Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Barclays reaffirmed an "overweight" rating and issued a $354.00 target price (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and upped their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.