Generali Asset Management SPA SGR Acquires Shares of 418 Public Storage (NYSE:PSA)

Generali Asset Management SPA SGR 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 418 shares of the real estate investment trust’s stock, valued at approximately $125,000.

Several other large investors have also bought and sold shares of PSA. Quent Capital LLC lifted its stake in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage during the 3rd quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in shares of Public Storage during the 4th quarter valued at $38,000. Toth Financial Advisory Corp increased its position in shares of Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 66 shares during the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new stake in shares of Public Storage during the 4th quarter valued at $67,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Down 1.8 %

PSA stock opened at $291.19 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $51.08 billion, a PE ratio of 30.24, a PEG ratio of 4.91 and a beta of 0.73. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The stock has a 50-day simple moving average of $299.96 and a two-hundred day simple moving average of $322.12.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 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 4.12%. The ex-dividend date is Thursday, March 13th. Public Storage’s payout ratio is presently 112.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PSA shares. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and raised their target price for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Barclays reaffirmed an “overweight” rating and set a $354.00 target price (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Scotiabank decreased their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Truist Financial decreased their price objective on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $338.00.

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.