Ontario Teachers Pension Plan Board Sells 2,160 Shares of Public Storage (NYSE:PSA)

Ontario Teachers Pension Plan Board reduced its stake in Public Storage (NYSE:PSA - Free Report) by 21.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,014 shares of the real estate investment trust's stock after selling 2,160 shares during the period. Ontario Teachers Pension Plan Board's holdings in Public Storage were worth $2,400,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Aware Super Pty Ltd as trustee of Aware Super bought a new position in Public Storage in the 4th quarter valued at about $2,706,000. Dagco Inc. acquired a new stake in Public Storage during the 4th quarter worth approximately $242,000. Canada Post Corp Registered Pension Plan bought a new stake in Public Storage in the 4th quarter valued at $8,979,000. Walleye Capital LLC grew its holdings in Public Storage by 260.5% in the 4th quarter. Walleye Capital LLC now owns 2,592 shares of the real estate investment trust's stock valued at $776,000 after buying an additional 1,873 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Public Storage during the 4th quarter worth $657,000. 78.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PSA. Royal Bank of Canada decreased their price target on shares of 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. Wells Fargo & Company lowered their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target for the company in a research note on Thursday, April 10th. Mizuho began coverage on Public Storage in a research note on Wednesday, April 9th. They set a "neutral" rating and a $287.00 price objective on the stock. Finally, Barclays reiterated an "overweight" rating and set a $354.00 target price (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $332.08.

Public Storage Price Performance

PSA stock traded up $6.72 during trading on Friday, reaching $295.75. 741,372 shares of the company were exchanged, compared to its average volume of 735,931. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $51.88 billion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 4.91 and a beta of 0.76. The company has a 50-day moving average of $295.93 and a two-hundred day moving average of $311.59.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors 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 dividend on an annualized basis and a yield of 4.06%. Public Storage's dividend payout ratio is currently 112.89%.

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.