Public Storage (NYSE:PSA) Shares Acquired by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Public Storage (NYSE:PSA - Free Report) by 114.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,521 shares of the real estate investment trust's stock after buying an additional 48,803 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.05% of Public Storage worth $33,302,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Pitcairn Co. lifted its position in shares of Public Storage by 15.9% during the first quarter. Pitcairn Co. now owns 868 shares of the real estate investment trust's stock worth $252,000 after purchasing an additional 119 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in Public Storage by 15.8% in the first quarter. CreativeOne Wealth LLC now owns 895 shares of the real estate investment trust's stock valued at $260,000 after acquiring an additional 122 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in Public Storage by 18.1% in the first quarter. EP Wealth Advisors LLC now owns 2,281 shares of the real estate investment trust's stock valued at $662,000 after acquiring an additional 350 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in Public Storage by 61.6% in the first quarter. Axxcess Wealth Management LLC now owns 1,913 shares of the real estate investment trust's stock valued at $555,000 after acquiring an additional 729 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Public Storage in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PSA shares. Citigroup raised their target price on shares of Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a report on Friday, August 30th. Wolfe Research upgraded shares of Public Storage to a "strong-buy" rating in a research note on Wednesday, September 4th. Jefferies Financial Group increased their price target on shares of Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Scotiabank increased their price target on shares of Public Storage from $308.00 to $339.00 and gave the company a "sector perform" rating in a research note on Thursday, August 22nd. Finally, Barclays dropped their price target 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $339.64.

Public Storage Stock Performance

NYSE:PSA traded up $1.73 during midday trading on Friday, reaching $337.58. The stock had a trading volume of 508,842 shares, compared to its average volume of 794,141. The firm has a fifty day simple moving average of $343.82 and a two-hundred day simple moving average of $316.39. Public Storage has a 12-month low of $251.49 and a 12-month high of $369.99. 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 stock has a market cap of $59.11 billion, a P/E ratio of 35.06, a P/E/G ratio of 5.59 and a beta of 0.70.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage's dividend payout ratio (DPR) is currently 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.