Royal London Asset Management Ltd. Has $24.08 Million Stock Position in Public Storage (NYSE:PSA)

Royal London Asset Management Ltd. raised its position in shares of Public Storage (NYSE:PSA - Free Report) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,166 shares of the real estate investment trust's stock after buying an additional 1,866 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Public Storage were worth $24,076,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PSA. Simplicity Wealth LLC raised its stake in Public Storage by 7.2% during the second quarter. Simplicity Wealth LLC now owns 1,313 shares of the real estate investment trust's stock worth $378,000 after acquiring an additional 88 shares during the period. QRG Capital Management Inc. lifted its stake in Public Storage by 6.8% in the second quarter. QRG Capital Management Inc. now owns 20,459 shares of the real estate investment trust's stock valued at $5,885,000 after buying an additional 1,299 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage during the second quarter valued at $36,000. Sound Income Strategies LLC grew its position in shares of Public Storage by 29.5% during the second quarter. Sound Income Strategies LLC now owns 566 shares of the real estate investment trust's stock worth $163,000 after acquiring an additional 129 shares during the last quarter. Finally, Czech National Bank increased its holdings in shares of Public Storage by 8.2% in the 2nd quarter. Czech National Bank now owns 30,137 shares of the real estate investment trust's stock worth $8,669,000 after acquiring an additional 2,293 shares during the period. Institutional investors own 78.79% of the company's stock.

Analysts Set New Price Targets

PSA has been the subject of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Wolfe Research raised Public Storage to a "strong-buy" rating in a report on Wednesday, September 4th. Citigroup lifted their target price on Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Evercore ISI reduced their price target on Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a research report on Monday, October 14th. Finally, Jefferies Financial Group raised their price target on Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $342.07.

Public Storage Price Performance

Shares of NYSE PSA traded up $1.33 during midday trading on Friday, reaching $334.00. The company's stock had a trading volume of 1,013,532 shares, compared to its average volume of 647,287. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a market cap of $58.49 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 5.57 and a beta of 0.71. The company has a 50 day moving average price of $340.84 and a 200 day moving average price of $320.43. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.59%. Public Storage's dividend payout ratio (DPR) is presently 124.61%.

About Public Storage

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.