Ontario Teachers Pension Plan Board Sells 12,608 Shares of Public Storage (NYSE:PSA)

Ontario Teachers Pension Plan Board lessened its holdings in Public Storage (NYSE:PSA - Free Report) by 55.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,174 shares of the real estate investment trust's stock after selling 12,608 shares during the period. Ontario Teachers Pension Plan Board's holdings in Public Storage were worth $3,702,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in PSA. Hilton Capital Management LLC lifted its position in shares of Public Storage by 103.0% during the third quarter. Hilton Capital Management LLC now owns 40,832 shares of the real estate investment trust's stock worth $14,858,000 after purchasing an additional 20,720 shares in the last quarter. Commerce Bank increased its stake in Public Storage by 16.1% during the 3rd quarter. Commerce Bank now owns 62,401 shares of the real estate investment trust's stock worth $22,706,000 after buying an additional 8,654 shares during the period. Prospera Private Wealth LLC acquired a new stake in Public Storage during the 3rd quarter worth approximately $34,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Public Storage in the 3rd quarter valued at approximately $1,415,000. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of Public Storage by 5.0% during the third quarter. Fifth Third Wealth Advisors LLC now owns 1,392 shares of the real estate investment trust's stock worth $507,000 after acquiring an additional 66 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on PSA. Barclays cut their target price on shares of Public Storage from $381.00 to $380.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 12th. Wolfe Research raised shares of Public Storage to a "strong-buy" rating in a research report on Wednesday, September 4th. Bank of America cut Public Storage from a "buy" rating to a "neutral" rating and set a $318.00 price target on the stock. in a research note on Monday, August 5th. Citigroup upped their price target on Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a report on Friday, August 30th. Finally, Morgan Stanley boosted their target price on Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $339.64.

Public Storage Trading Down 0.5 %

Shares of NYSE:PSA traded down $1.59 during midday trading on Wednesday, reaching $332.86. The company had a trading volume of 524,800 shares, compared to its average volume of 715,297. The company has a fifty day simple moving average of $345.22 and a two-hundred day simple moving average of $315.64. The firm has a market cap of $58.29 billion, a price-to-earnings ratio of 34.74, a price-to-earnings-growth ratio of 5.57 and a beta of 0.70. Public Storage has a 1-year low of $251.49 and a 1-year high of $369.99. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Friday, December 13th. Public Storage's dividend payout ratio (DPR) is 124.61%.

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.