Natixis Acquires 25,071 Shares of Public Storage (NYSE:PSA)

Natixis lifted its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 158.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 40,912 shares of the real estate investment trust's stock after purchasing an additional 25,071 shares during the period. Natixis' holdings in Public Storage were worth $12,251,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Cohen & Steers Inc. raised its stake in shares of Public Storage by 12.3% in the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock worth $1,626,731,000 after acquiring an additional 592,944 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Public Storage by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,010,044 shares of the real estate investment trust's stock valued at $1,197,769,000 after purchasing an additional 78,472 shares during the period. Norges Bank bought a new position in shares of Public Storage in the 4th quarter worth $931,286,000. Invesco Ltd. grew its stake in shares of Public Storage by 2.6% during the fourth quarter. Invesco Ltd. now owns 1,099,249 shares of the real estate investment trust's stock worth $329,159,000 after purchasing an additional 27,693 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Public Storage by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,097,640 shares of the real estate investment trust's stock valued at $328,677,000 after purchasing an additional 21,165 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Mizuho started coverage on shares of Public Storage in a research note on Wednesday, April 9th. They set a "neutral" rating and a $287.00 price objective on the stock. Royal Bank of Canada lowered 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. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and upped their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Scotiabank upgraded shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and dropped their price objective for the stock from $333.00 to $305.00 in a report on Wednesday, April 9th. Finally, Bank of America upgraded Public Storage from a "neutral" rating to a "buy" rating and boosted their target price for the company from $349.00 to $368.00 in a research note on Tuesday. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $336.25.

Public Storage Stock Performance

Shares of PSA stock traded down $1.44 during midday trading on Wednesday, hitting $295.23. 709,649 shares of the company were exchanged, compared to its average volume of 736,724. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The firm has a market capitalization of $51.79 billion, a P/E ratio of 30.66, a PEG ratio of 4.91 and a beta of 0.76. The firm's 50 day moving average price is $295.58 and its two-hundred day moving average price is $310.80. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Thursday, March 13th. Public Storage's payout ratio is 112.89%.

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.