Quest Partners LLC boosted its position in Public Storage (NYSE:PSA - Free Report) by 395.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,620 shares of the real estate investment trust's stock after purchasing an additional 6,083 shares during the period. Quest Partners LLC's holdings in Public Storage were worth $2,773,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board increased its stake in shares of Public Storage by 34.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust's stock valued at $319,270,000 after buying an additional 281,800 shares during the period. Price T Rowe Associates Inc. MD increased its position in Public Storage by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust's stock valued at $1,575,794,000 after acquiring an additional 219,391 shares during the period. AQR Capital Management LLC raised 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 last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Public Storage by 1,980.9% during 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. Finally, APG Asset Management US Inc. lifted its holdings in Public Storage by 4.8% during the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust's stock worth $623,485,000 after buying an additional 100,000 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.
Analyst Upgrades and Downgrades
PSA has been the topic of a number of analyst reports. Citigroup upped their price objective on shares of Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Scotiabank raised their target price on Public Storage from $308.00 to $339.00 and gave the company a "sector perform" rating in a research note on Thursday, August 22nd. Royal Bank of Canada decreased their target price on Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Evercore ISI cut their price target on Public Storage from $343.00 to $338.00 and set an "in-line" rating on the stock in a report on Monday, October 14th. Finally, Bank of America downgraded Public Storage from a "buy" rating to a "neutral" rating and set a $318.00 price objective for the company. in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Public Storage has an average rating of "Moderate Buy" and a consensus price target of $339.64.
Check Out Our Latest Report on Public Storage
Public Storage Stock Performance
NYSE PSA traded up $2.28 on Monday, hitting $337.29. 532,600 shares of the stock traded hands, compared to its average volume of 716,341. The firm has a market capitalization of $59.06 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 5.57 and a beta of 0.70. The business's fifty day moving average is $345.71 and its two-hundred day moving average is $315.16. 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 has a 12 month low of $251.49 and a 12 month high of $369.99.
Public Storage Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage's dividend payout ratio (DPR) is currently 124.61%.
Public Storage Company Profile
(
Free Report)
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.
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