Public Storage (NYSE:PSA) Stake Boosted by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado increased its stake in Public Storage (NYSE:PSAFree Report) by 473.9% during the 4th quarter, HoldingsChannel reports. The firm owned 23,440 shares of the real estate investment trust’s stock after acquiring an additional 19,356 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Public Storage were worth $7,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truepoint Inc. bought a new stake in Public Storage during the 3rd quarter valued at $241,000. Janney Montgomery Scott LLC lifted its holdings in Public Storage by 39.0% in the third quarter. Janney Montgomery Scott LLC now owns 20,329 shares of the real estate investment trust’s stock worth $5,358,000 after purchasing an additional 5,705 shares during the period. D.A. Davidson & CO. grew its position in Public Storage by 37.0% in the 3rd quarter. D.A. Davidson & CO. now owns 8,383 shares of the real estate investment trust’s stock valued at $2,209,000 after buying an additional 2,264 shares in the last quarter. Pathstone Family Office LLC acquired a new position in Public Storage during the 3rd quarter valued at about $1,299,000. Finally, HighTower Advisors LLC raised its position in shares of Public Storage by 1.9% during the 3rd quarter. HighTower Advisors LLC now owns 72,203 shares of the real estate investment trust’s stock worth $19,067,000 after buying an additional 1,366 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Transactions at Public Storage

In other news, Director Kristy Pipes acquired 2,149 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the completion of the acquisition, the director now owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.00% of the company’s stock.

Public Storage Trading Down 0.8 %

Public Storage stock opened at $273.84 on Friday. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. The stock has a market cap of $48.12 billion, a P/E ratio of 24.87, a P/E/G ratio of 3.86 and a beta of 0.63. The company’s fifty day simple moving average is $273.05 and its 200-day simple moving average is $280.45.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Wednesday, June 12th. Public Storage’s payout ratio is currently 108.99%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSA. BMO Capital Markets raised their price objective on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $280.00 to $310.00 in a research note on Friday, April 5th. Barclays lowered their target price on Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. Scotiabank upped their price target on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a report on Monday, March 18th. Finally, Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and an average target price of $304.75.

Check Out Our Latest Report on PSA

Public Storage Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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