Public Employees Retirement System of Ohio Grows Stock Holdings in Public Storage (NYSE:PSA)

Public Employees Retirement System of Ohio boosted its position in shares of Public Storage (NYSE:PSA - Free Report) by 1.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 322,385 shares of the real estate investment trust's stock after acquiring an additional 5,613 shares during the quarter. Public Storage comprises about 0.5% of Public Employees Retirement System of Ohio's portfolio, making the stock its 28th largest position. Public Employees Retirement System of Ohio owned about 0.18% of Public Storage worth $117,306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. Petredis Investment Advisors LLC lifted its holdings in Public Storage by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust's stock valued at $2,497,000 after acquiring an additional 30 shares during the last quarter. S.A. Mason LLC lifted its holdings in Public Storage by 3.8% in the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust's stock valued at $300,000 after acquiring an additional 30 shares during the last quarter. Haverford Trust Co lifted its holdings in Public Storage by 0.7% in the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust's stock valued at $1,558,000 after acquiring an additional 30 shares during the last quarter. Huntington National Bank lifted its holdings in Public Storage by 5.4% in the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 33 shares during the last quarter. Finally, Chesapeake Wealth Management lifted its holdings in Public Storage by 2.2% in the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust's stock valued at $560,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Up 0.5 %

NYSE:PSA traded up $1.61 during trading hours on Monday, hitting $335.61. The company's stock had a trading volume of 228,967 shares, compared to its average volume of 711,317. The stock has a market capitalization of $58.77 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 5.56 and a beta of 0.71. The stock has a fifty day moving average of $340.38 and a 200-day moving average of $321.30. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Friday, December 13th. Public Storage's payout ratio is 124.61%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PSA shares. Evercore ISI decreased their price target on Public Storage from $343.00 to $338.00 and set an "in-line" rating on the stock in a research note on Monday, October 14th. Morgan Stanley upped their price target on Public Storage from $293.00 to $315.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 2nd. Scotiabank upped their price target on Public Storage from $308.00 to $339.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 22nd. Royal Bank of Canada reduced their price objective on Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Finally, Truist Financial increased their price objective on Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock 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.