Public Storage (NYSE:PSA) Shares Bought by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,424 shares of the real estate investment trust's stock after purchasing an additional 1,310 shares during the period. Treasurer of the State of North Carolina's holdings in Public Storage were worth $21,088,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PSA. Capital Fund Management S.A. lifted its position in Public Storage by 243.8% during the fourth quarter. Capital Fund Management S.A. now owns 86,604 shares of the real estate investment trust's stock valued at $25,933,000 after buying an additional 61,413 shares during the period. Texas Yale Capital Corp. lifted its holdings in shares of Public Storage by 13.4% during the fourth quarter. Texas Yale Capital Corp. now owns 7,847 shares of the real estate investment trust's stock valued at $2,350,000 after purchasing an additional 925 shares in the last quarter. Azimuth Capital Investment Management LLC grew its stake in shares of Public Storage by 3.6% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 10,109 shares of the real estate investment trust's stock worth $3,027,000 after acquiring an additional 347 shares during the period. APG Asset Management N.V. purchased a new stake in Public Storage during the 4th quarter valued at $24,927,000. Finally, Bank of Nova Scotia increased its position in Public Storage by 5.7% during the fourth quarter. Bank of Nova Scotia now owns 21,538 shares of the real estate investment trust's stock valued at $6,450,000 after acquiring an additional 1,171 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

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Public Storage Trading Up 0.0 %

Public Storage stock traded up $0.08 during trading on Tuesday, hitting $288.81. The company had a trading volume of 691,515 shares, compared to its average volume of 735,021. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company's 50 day simple moving average is $296.81 and its 200-day simple moving average is $313.14. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The stock has a market cap of $50.66 billion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth 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. Shareholders of record on Thursday, March 13th were issued a dividend of $3.00 per share. The ex-dividend date was Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 4.15%. Public Storage's dividend payout ratio (DPR) is 112.89%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PSA shares. Scotiabank raised shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and reduced their price objective for the stock from $333.00 to $305.00 in a research note on Wednesday, April 9th. Mizuho started coverage on shares of Public Storage in a research report on Wednesday, April 9th. They set a "neutral" rating and a $287.00 target price on the stock. Royal Bank of Canada reduced their price objective on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. Barclays reiterated an "overweight" rating and issued a $354.00 target price (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and lifted their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Public Storage has an average rating of "Moderate Buy" and an average target price of $332.08.

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.