Quantbot Technologies LP Takes Position in Public Storage (NYSE:PSA)

Quantbot Technologies LP acquired a new stake in Public Storage (NYSE:PSA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,959 shares of the real estate investment trust's stock, valued at approximately $2,084,000.

Other large investors also recently modified their holdings of the company. Raymond James Trust N.A. boosted its holdings in shares of Public Storage by 11.2% in the 3rd quarter. Raymond James Trust N.A. now owns 2,193 shares of the real estate investment trust's stock worth $798,000 after purchasing an additional 221 shares in the last quarter. Nwam LLC bought a new position in Public Storage during the third quarter valued at approximately $242,000. Great Valley Advisor Group Inc. grew its position in Public Storage by 2.6% during the third quarter. Great Valley Advisor Group Inc. now owns 2,122 shares of the real estate investment trust's stock valued at $773,000 after acquiring an additional 53 shares during the last quarter. Cerity Partners LLC raised its position in Public Storage by 18.0% in the 3rd quarter. Cerity Partners LLC now owns 32,566 shares of the real estate investment trust's stock worth $11,850,000 after purchasing an additional 4,961 shares during the period. Finally, Kingsview Wealth Management LLC bought a new stake in Public Storage in the third quarter worth $381,000. 78.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Scotiabank reduced their price target on Public Storage from $338.00 to $333.00 and set a "sector perform" rating on the stock in a report on Wednesday, March 5th. Barclays reiterated an "overweight" rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and raised their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada dropped their target price on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $338.00.

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Public Storage Stock Up 0.2 %

Shares of Public Storage stock traded up $0.67 during midday trading on Thursday, hitting $292.21. The company had a trading volume of 550,335 shares, compared to its average volume of 679,599. The company has a 50 day moving average of $300.06 and a 200 day moving average of $320.89. The stock has a market capitalization of $51.26 billion, a P/E ratio of 30.34, a P/E/G ratio of 4.91 and a beta of 0.73. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage's dividend payout ratio is presently 112.89%.

Public Storage Company 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.