Natixis Advisors LLC Purchases 1,578 Shares of Public Storage (NYSE:PSA)

Natixis Advisors LLC boosted its stake in shares of Public Storage (NYSE:PSA - Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,958 shares of the real estate investment trust's stock after buying an additional 1,578 shares during the period. Natixis Advisors LLC's holdings in Public Storage were worth $22,908,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of Public Storage in the 2nd quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Public Storage during the second quarter valued at $36,000. Ashton Thomas Securities LLC acquired a new position in Public Storage during the third quarter valued at $38,000. Crewe Advisors LLC acquired a new position in Public Storage during the first quarter valued at $39,000. Finally, EdgeRock Capital LLC purchased a new stake in Public Storage in the 2nd quarter worth about $39,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of research analyst reports. Bank of America lowered shares of Public Storage from a "buy" rating to a "neutral" rating and set a $318.00 price target for the company. in a research report on Monday, August 5th. Wells Fargo & Company lowered their price target on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Evercore ISI cut their price objective on Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a report on Monday, October 14th. Truist Financial downgraded Public Storage from a "buy" rating to a "hold" rating and set a $306.00 target price on the stock. in a research note on Thursday, August 1st. Finally, Royal Bank of Canada cut their price target on Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research note on Friday, November 8th. 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $339.64.

Public Storage Stock Performance

Public Storage stock traded down $1.21 on Tuesday, reaching $336.08. 190,729 shares of the stock were exchanged, compared to its average volume of 713,964. The stock has a market cap of $58.85 billion, a PE ratio of 35.12, a PEG ratio of 5.57 and a beta of 0.70. The firm has a fifty day moving average price of $345.71 and a two-hundred day moving average price of $315.16. Public Storage has a twelve month low of $251.49 and a twelve month high of $369.99. 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 Dividend Announcement

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 3.57%. 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.