Public Storage (NYSE:PSA) Shares Acquired by Capital International Inc. CA

Capital International Inc. CA lifted its stake in shares of Public Storage (NYSE:PSA) by 17.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,603 shares of the real estate investment trust’s stock after acquiring an additional 1,612 shares during the period. Capital International Inc. CA’s holdings in Public Storage were worth $3,175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSA. Cohen & Steers Inc. lifted its position in shares of Public Storage by 12.3% during the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust’s stock worth $1,626,731,000 after purchasing an additional 592,944 shares in the last quarter. Geode Capital Management LLC increased its stake in Public Storage by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,010,044 shares of the real estate investment trust’s stock worth $1,197,769,000 after buying an additional 78,472 shares during the period. Norges Bank acquired a new position in Public Storage in the 4th quarter worth $931,286,000. Invesco Ltd. boosted its position in Public Storage by 2.6% in the 4th quarter. Invesco Ltd. now owns 1,099,249 shares of the real estate investment trust’s stock valued at $329,159,000 after buying an additional 27,693 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Public Storage by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,097,640 shares of the real estate investment trust’s stock valued at $328,677,000 after acquiring an additional 21,165 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Wells Fargo & Company decreased their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada cut their price target on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Scotiabank raised shares of Public Storage from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the stock from $333.00 to $305.00 in a report on Wednesday, April 9th. Finally, Truist Financial upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a research note on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $332.08.

Public Storage Stock Performance

Shares of PSA stock opened at $295.75 on Monday. 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 business has a 50 day moving average of $295.93 and a two-hundred day moving average of $311.30. The company has a market cap of $51.88 billion, a P/E ratio of 30.71, a PEG ratio of 4.91 and a beta of 0.76. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s dividend payout ratio is presently 112.89%.

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.