Van Lanschot Kempen Investment Management N.V. Has $12.19 Million Stock Holdings in Public Storage (NYSE:PSA)

Van Lanschot Kempen Investment Management N.V. lifted its position in Public Storage (NYSE:PSA - Free Report) by 69.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,701 shares of the real estate investment trust's stock after acquiring an additional 16,627 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Public Storage were worth $12,188,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Public Storage in the fourth quarter worth $931,286,000. Cohen & Steers Inc. grew its holdings in shares of Public Storage by 12.3% in the 4th quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock valued at $1,626,731,000 after buying an additional 592,944 shares during the period. Amundi increased its position in shares of Public Storage by 54.0% in the 4th quarter. Amundi now owns 779,882 shares of the real estate investment trust's stock valued at $230,426,000 after buying an additional 273,486 shares in the last quarter. Aew Capital Management L P raised its stake in Public Storage by 108.6% during the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust's stock worth $131,574,000 after buying an additional 228,740 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Public Storage during the fourth quarter worth about $66,253,000. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Down 1.0 %

Shares of NYSE PSA traded down $2.94 during mid-day trading on Friday, hitting $290.85. The company had a trading volume of 909,822 shares, compared to its average volume of 737,377. 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 firm has a 50-day simple moving average of $295.45 and a two-hundred day simple moving average of $310.32. The company has a market capitalization of $51.02 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. Public Storage has a one year low of $256.31 and a one year high of $369.99.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a $3.00 dividend. The ex-dividend date was Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.13%. Public Storage's dividend payout ratio is presently 112.89%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and raised their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Mizuho initiated coverage on shares of Public Storage in a report on Wednesday, April 9th. They set a "neutral" rating and a $287.00 target price on the stock. Barclays reiterated an "overweight" rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Royal Bank of Canada dropped 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 report on Wednesday, February 26th. Finally, Bank of America raised shares of Public Storage from a "neutral" rating to a "buy" rating and upped their target price for the stock from $349.00 to $368.00 in a research note on Tuesday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Public Storage currently has an average rating of "Moderate Buy" and an average target price of $336.25.

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.