Generali Investments CEE investicni spolecnost a.s. Makes New $2.20 Million Investment in Public Storage (NYSE:PSA)

Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Public Storage (NYSE:PSA) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,350 shares of the real estate investment trust’s stock, valued at approximately $2,201,000.

Other large investors also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich increased its stake in Public Storage by 69.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 262,298 shares of the real estate investment trust’s stock valued at $83,090,000 after buying an additional 107,699 shares during the period. Machina Capital S.A.S. acquired a new position in shares of Public Storage in the fourth quarter worth $271,000. Aviance Capital Partners LLC raised its holdings in shares of Public Storage by 16.4% during the fourth quarter. Aviance Capital Partners LLC now owns 710 shares of the real estate investment trust’s stock worth $213,000 after acquiring an additional 100 shares in the last quarter. Andra AP fonden boosted its position in Public Storage by 39.8% during the fourth quarter. Andra AP fonden now owns 62,900 shares of the real estate investment trust’s stock valued at $18,835,000 after purchasing an additional 17,900 shares during the last quarter. Finally, BBR Partners LLC purchased a new position in Public Storage in the fourth quarter valued at about $403,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PSA. Barclays reduced their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Royal Bank of Canada reduced their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Scotiabank dropped their price target on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Truist Financial raised their price target 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Seven 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $340.23.

Public Storage Stock Up 1.8 %

Shares of PSA stock opened at $313.99 on Friday. The stock has a 50 day moving average of $299.31 and a 200-day moving average of $324.77. The firm has a market cap of $55.08 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99.

Public Storage Dividend Announcement

The business 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. This represents a $12.00 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

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.