Rathbones Group PLC Acquires 14,221 Shares of Public Storage (NYSE:PSA)

Rathbones Group PLC grew its position in Public Storage (NYSE:PSA - Free Report) by 42.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,797 shares of the real estate investment trust's stock after acquiring an additional 14,221 shares during the period. Rathbones Group PLC's holdings in Public Storage were worth $14,312,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Walleye Capital LLC acquired a new position in Public Storage during the third quarter worth approximately $262,000. IHT Wealth Management LLC boosted its stake in shares of Public Storage by 40.7% during the 3rd quarter. IHT Wealth Management LLC now owns 1,262 shares of the real estate investment trust's stock worth $458,000 after acquiring an additional 365 shares during the period. Quantinno Capital Management LP increased its holdings in shares of Public Storage by 16.2% during the 3rd quarter. Quantinno Capital Management LP now owns 11,390 shares of the real estate investment trust's stock worth $4,145,000 after acquiring an additional 1,590 shares during the last quarter. Stifel Financial Corp raised its stake in Public Storage by 4.9% in the 3rd quarter. Stifel Financial Corp now owns 69,856 shares of the real estate investment trust's stock valued at $25,422,000 after acquiring an additional 3,241 shares during the period. Finally, Insigneo Advisory Services LLC lifted its holdings in Public Storage by 5.9% during the 3rd quarter. Insigneo Advisory Services LLC now owns 823 shares of the real estate investment trust's stock valued at $299,000 after purchasing an additional 46 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several equities analysts have commented on PSA shares. Mizuho initiated coverage on shares of Public Storage in a report on Wednesday. They issued a "neutral" rating and a $287.00 price objective on the stock. Barclays reaffirmed an "overweight" rating and set a $354.00 target price (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and increased their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a report on Thursday. Finally, Wells Fargo & Company decreased their target price on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $332.08.

Public Storage Stock Performance

Public Storage stock traded up $1.88 during mid-day trading on Friday, reaching $279.95. The company's stock had a trading volume of 1,035,590 shares, compared to its average volume of 734,257. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The firm's fifty day moving average price is $297.08 and its two-hundred day moving average price is $313.61. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $49.11 billion, a P/E ratio of 29.07, a PEG ratio of 4.91 and a beta of 0.76.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Thursday, March 13th. Public Storage's payout ratio is 112.89%.

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.