Public Storage (NYSE:PSA) Shares Bought by Vinva Investment Management Ltd

Vinva Investment Management Ltd grew its stake in Public Storage (NYSE:PSA) by 14.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,266 shares of the real estate investment trust’s stock after buying an additional 933 shares during the period. Vinva Investment Management Ltd’s holdings in Public Storage were worth $2,591,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. OFI Invest Asset Management acquired a new position in Public Storage in the second quarter valued at $32,000. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage during the third quarter worth about $34,000. Opal Wealth Advisors LLC purchased a new stake in shares of Public Storage in the 2nd quarter valued at about $36,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage in the 3rd quarter valued at about $38,000. Finally, EdgeRock Capital LLC purchased a new position in Public Storage during the 2nd quarter worth approximately $39,000. 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. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a one year low of $253.98 and a one year high of $369.99. The firm has a market capitalization of $61.53 billion, a P/E ratio of 36.49, a PEG ratio of 5.84 and a beta of 0.70. The company’s fifty day moving average is $343.04 and its two-hundred day moving average is $318.52.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 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 3.42%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio is currently 124.61%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup upped their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Evercore ISI reduced 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. Jefferies Financial Group raised their price target on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target on the stock. in a research report on Monday, August 5th. Finally, Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average price target of $339.64.

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.