Perpetual Ltd Boosts Stock Holdings in Public Storage (NYSE:PSA)

Perpetual Ltd raised its position in Public Storage (NYSE:PSA - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 99,473 shares of the real estate investment trust's stock after acquiring an additional 4,015 shares during the period. Perpetual Ltd owned approximately 0.06% of Public Storage worth $29,786,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Public Storage by 732.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust's stock valued at $561,763,000 after purchasing an additional 1,358,493 shares in the last quarter. Adelante Capital Management LLC increased its position in shares of Public Storage by 389.9% during the third quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust's stock worth $532,465,000 after acquiring an additional 1,164,630 shares in the last quarter. FMR LLC raised its holdings in shares of Public Storage by 20.9% in the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust's stock worth $1,828,763,000 after acquiring an additional 869,066 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Public Storage by 57.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust's stock valued at $405,278,000 after acquiring an additional 405,847 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Public Storage by 116.7% during the 2nd quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust's stock valued at $111,077,000 after purchasing an additional 208,546 shares during the last quarter. Institutional investors own 78.79% of the company's stock.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the transaction, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.10% of the company's stock.

Public Storage Stock Performance

PSA traded up $2.81 on Tuesday, hitting $298.88. The company's stock had a trading volume of 219,990 shares, compared to its average volume of 640,433. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The firm has a market cap of $52.34 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 4.77 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The company's 50 day simple moving average is $316.15 and its 200-day simple moving average is $325.96.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 4.02%. Public Storage's dividend payout ratio is currently 124.61%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and raised their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada cut their price objective on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. Evercore ISI lowered their target price on shares of Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a report on Monday, October 14th. Wells Fargo & Company reduced their price objective on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Finally, Barclays dropped their target price on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and a consensus price target of $344.54.

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.