Board of the Pension Protection Fund Makes New Investment in Public Storage (NYSE:PSA)

Board of the Pension Protection Fund acquired a new stake in shares of Public Storage (NYSE:PSA) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,700 shares of the real estate investment trust’s stock, valued at approximately $808,000.

A number of other large investors also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in shares of Public Storage in the third quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage during the 3rd quarter valued at approximately $38,000. Compagnie Lombard Odier SCmA purchased a new position in Public Storage in the 3rd quarter worth approximately $50,000. Harbor Capital Advisors Inc. bought a new position in Public Storage in the 3rd quarter worth approximately $55,000. Finally, Versant Capital Management Inc grew its holdings in Public Storage by 301.7% during the 4th quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the transaction, the insider now directly owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PSA shares. Truist Financial boosted their target price on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Royal Bank of Canada dropped their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Evercore ISI cut their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Finally, Wells Fargo & Company decreased their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $344.54.

Public Storage Trading Down 0.0 %

PSA stock opened at $290.15 on Wednesday. The firm’s fifty day simple moving average is $319.23 and its two-hundred day simple moving average is $325.70. The stock has a market capitalization of $50.81 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 5.29 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

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.