Public Storage (NYSE:PSA) Stock Holdings Lifted by Plato Investment Management Ltd

Plato Investment Management Ltd raised its position in Public Storage (NYSE:PSA) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,182 shares of the real estate investment trust’s stock after purchasing an additional 145 shares during the quarter. Plato Investment Management Ltd’s holdings in Public Storage were worth $1,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSA. Quent Capital LLC grew its stake in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Public Storage during the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Public Storage during the 3rd quarter worth about $38,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage during the 4th quarter worth about $38,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Public Storage during the 3rd quarter worth about $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 2.4 %

Public Storage stock opened at $310.86 on Tuesday. The business has a 50 day moving average price of $298.53 and a two-hundred day moving average price of $325.14. 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 stock has a market cap of $54.53 billion, a price-to-earnings ratio of 32.28, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 3.86%. Public Storage’s dividend payout ratio (DPR) is 112.89%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PSA. Wells Fargo & Company decreased their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial upped their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Barclays decreased their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada cut their price objective on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $340.69.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the transaction, the insider now owns 2,364 shares of the company’s stock, valued at $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 11.00% of the company’s stock.

Public Storage Company 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.