Public Storage (NYSE:PSA) Shares Purchased by Czech National Bank

Czech National Bank boosted its stake in Public Storage (NYSE:PSA) by 0.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 18,731 shares of the real estate investment trust’s stock after acquiring an additional 109 shares during the period. Czech National Bank’s holdings in Public Storage were worth $5,467,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Arbor Capital Management Inc. ADV raised its holdings in shares of Public Storage by 0.9% in the 4th quarter. Arbor Capital Management Inc. ADV now owns 4,159 shares of the real estate investment trust’s stock worth $1,129,000 after purchasing an additional 36 shares during the period. Gryphon Financial Partners LLC lifted its position in Public Storage by 2.3% during the first quarter. Gryphon Financial Partners LLC now owns 1,627 shares of the real estate investment trust’s stock valued at $492,000 after buying an additional 36 shares in the last quarter. Kinneret Advisory LLC grew its stake in Public Storage by 2.3% during the first quarter. Kinneret Advisory LLC now owns 1,678 shares of the real estate investment trust’s stock worth $655,000 after buying an additional 37 shares during the period. Flputnam Investment Management Co. boosted its position in Public Storage by 4.6% during the 1st quarter. Flputnam Investment Management Co. now owns 859 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 38 shares during the period. Finally, Windham Capital Management LLC lifted its position in Public Storage by 4.6% during the 1st quarter. Windham Capital Management LLC now owns 856 shares of the real estate investment trust’s stock worth $259,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 78.75% of the company’s stock.

Public Storage Stock Performance

Shares of PSA stock opened at $274.11 on Friday. The stock has a market capitalization of $48.20 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 3.45 and a beta of 0.46. Public Storage has a one year low of $266.01 and a one year high of $316.48. The company’s 50-day simple moving average is $282.27 and its 200-day simple moving average is $288.57. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.28 and a current ratio of 1.28.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Tuesday, September 12th. Public Storage’s dividend payout ratio is presently 51.97%.

Analyst Ratings Changes

PSA has been the topic of a number of analyst reports. Stifel Nicolaus dropped their price objective on shares of Public Storage from $360.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial dropped their price target on shares of Public Storage from $320.00 to $305.00 and set a “buy” rating on the stock in a research note on Tuesday, August 29th. JPMorgan Chase & Co. lowered their target price on Public Storage from $338.00 to $324.00 in a research note on Tuesday, June 13th. Finally, StockNews.com started coverage on Public Storage in a report on Wednesday, August 23rd. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Public Storage currently has an average rating of “Hold” and an average price target of $317.20.

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 June 30, 2023, we had: (i) interests in 2,888 self-storage facilities located in 40 states with approximately 206 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 266 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.