Public Storage (NYSE:PSA) Shares Bought by Saturna Capital Corp

Saturna Capital Corp lifted its position in shares of Public Storage (NYSE:PSA) by 3.2% during the third quarter, HoldingsChannel reports. The fund owned 6,542 shares of the real estate investment trust’s stock after acquiring an additional 204 shares during the quarter. Saturna Capital Corp’s holdings in Public Storage were worth $2,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Petredis Investment Advisors LLC increased its stake in shares of Public Storage by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock worth $2,497,000 after acquiring an additional 30 shares during the period. S.A. Mason LLC increased its stake in shares of Public Storage by 3.8% during the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 30 shares during the period. Haverford Trust Co increased its stake in shares of Public Storage by 0.7% during the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock worth $1,558,000 after acquiring an additional 30 shares during the period. Yoder Wealth Management Inc. increased its stake in shares of Public Storage by 5.0% during the third quarter. Yoder Wealth Management Inc. now owns 763 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 36 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Public Storage by 0.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock worth $1,201,000 after acquiring an additional 39 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSA has been the topic of a number of recent analyst reports. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Royal Bank of Canada lowered their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Evercore ISI lowered their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a research report on Monday, August 5th. Finally, Barclays lowered their target price on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Stock Performance

Shares of PSA opened at $333.96 on Wednesday. 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 has a market capitalization of $58.48 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 4.75 and a beta of 0.70. Public Storage has a 1 year low of $250.51 and a 1 year high of $369.99. The company’s 50 day simple moving average is $346.58 and its 200 day simple moving average is $313.10.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio is currently 124.61%.

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 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.