Teacher Retirement System of Texas Increases Holdings in Public Storage (NYSE:PSA)

Teacher Retirement System of Texas increased its stake in shares of Public Storage (NYSE:PSA - Free Report) by 45.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,404 shares of the real estate investment trust's stock after purchasing an additional 31,759 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of Public Storage worth $30,364,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quent Capital LLC grew its position in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after buying an additional 50 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Public Storage during the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new stake in shares of Public Storage in the 4th quarter valued at approximately $38,000. Toth Financial Advisory Corp raised its holdings in shares of Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock valued at $61,000 after purchasing an additional 66 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its position in shares of Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust's stock worth $79,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

PSA traded down $5.96 during trading on Tuesday, reaching $288.97. The company's stock had a trading volume of 610,234 shares, compared to its average volume of 679,504. 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's fifty day moving average price is $300.07 and its 200-day moving average price is $321.50. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The company has a market capitalization of $50.69 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73.

Remove Ads

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is currently 112.89%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Truist Financial cut their price target on Public Storage from $316.00 to $310.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and boosted their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Scotiabank dropped their price target on shares of Public Storage from $338.00 to $333.00 and set a "sector perform" rating on the stock in a research note on Wednesday, March 5th. Barclays restated an "overweight" rating and set a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company dropped their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Seven analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $338.00.

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.