UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Public Storage (NYSE:PSA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Public Storage (NYSE:PSA) by 732.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,543,857 shares of the real estate investment trust’s stock after buying an additional 1,358,493 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Public Storage were worth $561,763,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PSA. B. Riley Wealth Advisors Inc. grew its holdings in shares of Public Storage by 19.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,639 shares of the real estate investment trust’s stock valued at $765,000 after buying an additional 421 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Public Storage in the first quarter worth about $42,000. Swedbank AB acquired a new stake in Public Storage during the first quarter worth about $17,465,000. Atria Investments Inc raised its position in Public Storage by 1.1% during the first quarter. Atria Investments Inc now owns 5,732 shares of the real estate investment trust’s stock valued at $1,663,000 after acquiring an additional 61 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Public Storage by 154.8% in the first quarter. Cetera Investment Advisers now owns 57,598 shares of the real estate investment trust’s stock valued at $16,707,000 after acquiring an additional 34,992 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

Shares of NYSE PSA opened at $351.36 on Friday. Public Storage has a one year low of $253.98 and a one year high of $369.99. 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 firm has a fifty day moving average of $343.04 and a 200 day moving average of $318.52. The firm has a market cap of $61.53 billion, a PE ratio of 36.49, a PEG ratio of 5.84 and a beta of 0.70.

Public Storage Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.42%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Wall Street Analysts Forecast Growth

PSA has been the topic of a number of analyst reports. Barclays dropped their price objective on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Evercore ISI cut their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Jefferies Financial Group lifted their target price on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Morgan Stanley lifted their target price on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $339.64.

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.