Achmea Investment Management B.V. Grows Position in Public Storage (NYSE:PSA)

Achmea Investment Management B.V. boosted its stake in shares of Public Storage (NYSE:PSA) by 26.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,427 shares of the real estate investment trust’s stock after purchasing an additional 10,181 shares during the period. Achmea Investment Management B.V.’s holdings in Public Storage were worth $14,501,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PSA. Sigma Planning Corp purchased a new stake in Public Storage during the 3rd quarter worth approximately $238,000. Axxcess Wealth Management LLC grew its position in Public Storage by 68.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,709 shares of the real estate investment trust’s stock worth $622,000 after purchasing an additional 693 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Public Storage during the 3rd quarter worth approximately $38,000. Apollon Wealth Management LLC grew its position in Public Storage by 26.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,688 shares of the real estate investment trust’s stock worth $614,000 after purchasing an additional 354 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in Public Storage by 34.0% during the 3rd quarter. Harbour Investments Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $966,000 after purchasing an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of NYSE PSA opened at $303.39 on Thursday. The company’s fifty day moving average price is $299.92 and its 200 day moving average price is $324.23. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The company has a market capitalization of $53.22 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 3.96%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

Wall Street Analyst Weigh In

PSA has been the topic of several recent research reports. Royal Bank of Canada dropped their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial upped their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Scotiabank dropped their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Finally, Wells Fargo & Company dropped their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $339.69.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 11.10% of the stock is currently owned by insiders.

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.