Caisse DE Depot ET Placement DU Quebec Acquires 90,176 Shares of Public Storage (NYSE:PSA)

Caisse DE Depot ET Placement DU Quebec grew its position in shares of Public Storage (NYSE:PSA - Free Report) by 226.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,001 shares of the real estate investment trust's stock after buying an additional 90,176 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.07% of Public Storage worth $47,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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. FMR LLC raised its position in shares of Public Storage by 20.9% during the third 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. raised its position in shares of Public Storage by 57.3% during the third quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust's stock worth $405,278,000 after acquiring an additional 405,847 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Public Storage by 116.7% during the second 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. Finally, Panagora Asset Management Inc. increased its position in Public Storage by 1,980.9% in the second quarter. Panagora Asset Management Inc. now owns 144,185 shares of the real estate investment trust's stock worth $41,475,000 after purchasing an additional 137,256 shares during the period. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

NYSE PSA traded down $3.31 during trading on Friday, reaching $348.05. 690,998 shares of the company's stock were exchanged, compared to its average volume of 733,152. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50 day moving average price of $342.76 and a 200-day moving average price of $319.51. The stock has a market capitalization of $60.95 billion, a P/E ratio of 36.14, a PEG ratio of 5.79 and a beta of 0.70. Public Storage has a fifty-two week low of $255.78 and a fifty-two week high of $369.99.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, December 13th. Public Storage's dividend payout ratio is presently 124.61%.

Wall Street Analysts Forecast Growth

PSA has been the subject of several recent research reports. Wolfe Research upgraded shares of Public Storage to a "strong-buy" rating in a research report on Wednesday, September 4th. Royal Bank of Canada dropped their price objective on Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. Morgan Stanley raised their target price on Public Storage from $293.00 to $315.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 2nd. Wells Fargo & Company lowered their price target on Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Finally, Barclays cut 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 report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $339.64.

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.