Barclays PLC Buys 13,065 Shares of Public Storage (NYSE:PSA)

Barclays PLC raised its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 465,653 shares of the real estate investment trust's stock after purchasing an additional 13,065 shares during the period. Barclays PLC owned 0.27% of Public Storage worth $169,433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PSA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Public Storage by 732.9% in 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 worth $561,763,000 after purchasing an additional 1,358,493 shares during the last quarter. Adelante Capital Management LLC boosted its holdings in 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 buying an additional 1,164,630 shares during the last quarter. FMR LLC grew its position in shares of Public Storage by 20.9% during 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 buying an additional 869,066 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of 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 during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Public Storage by 116.7% in 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 acquiring an additional 208,546 shares during the period. Institutional investors own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PSA. Citigroup boosted their price objective 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. Jefferies Financial Group boosted their price target on shares of Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Truist Financial raised their price objective on Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research note on Thursday, December 5th. Evercore ISI decreased their target price on Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a research note on Monday, October 14th. Finally, Scotiabank increased their price target on Public Storage from $308.00 to $339.00 and gave the stock a "sector perform" rating in a report on Thursday, August 22nd. One research 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 stock has a consensus rating of "Moderate Buy" and an average target price of $342.07.

Public Storage Stock Down 1.4 %

NYSE:PSA traded down $4.63 during trading hours on Wednesday, reaching $323.36. 923,356 shares of the stock were exchanged, compared to its average volume of 714,327. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The stock has a market cap of $56.62 billion, a PE ratio of 33.62, a PEG ratio of 5.56 and a beta of 0.71. The firm has a 50 day moving average of $339.18 and a 200 day moving average of $322.12.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.71%. Public Storage's dividend payout ratio (DPR) is presently 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.