Pensionfund DSM Netherlands Has $6.94 Million Stock Holdings in Public Storage (NYSE:PSA)

Pensionfund DSM Netherlands decreased its position in shares of Public Storage (NYSE:PSA - Free Report) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,189 shares of the real estate investment trust's stock after selling 6,000 shares during the quarter. Public Storage makes up about 4.3% of Pensionfund DSM Netherlands' holdings, making the stock its 6th largest position. Pensionfund DSM Netherlands' holdings in Public Storage were worth $6,944,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PSA. Prospera Private Wealth LLC purchased a new stake in Public Storage in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Storage in the third quarter valued at about $38,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Public Storage during the third quarter worth about $50,000. Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage during the third quarter worth about $55,000. Finally, Deseret Mutual Benefit Administrators increased its position in Public Storage by 39.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 206 shares of the real estate investment trust's stock valued at $75,000 after acquiring an additional 58 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 450 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares of the company's stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.00% of the company's stock.

Public Storage Stock Down 1.6 %

Shares of NYSE PSA traded down $4.80 during trading on Monday, reaching $295.65. 597,675 shares of the stock were exchanged, compared to its average volume of 598,092. The company has a market capitalization of $51.77 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 5.29 and a beta of 0.74. The business's 50-day moving average price is $324.74 and its 200 day moving average price is $325.52. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.06%. Public Storage's payout ratio is currently 124.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSA. Jefferies Financial Group increased their target price on Public Storage from $360.00 to $422.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Morgan Stanley increased their target price on shares of Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a report on Wednesday, October 2nd. Truist Financial boosted their price target on Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research note on Thursday, December 5th. Barclays dropped their price objective on Public Storage from $381.00 to $380.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada decreased their target price on Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $342.07.

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.