Public Storage (NYSE:PSA) Shares Bought by Bank of Montreal Can

Bank of Montreal Can boosted its position in shares of Public Storage (NYSE:PSA) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,169 shares of the real estate investment trust’s stock after buying an additional 4,583 shares during the period. Bank of Montreal Can’s holdings in Public Storage were worth $69,962,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. grew its holdings in shares of Public Storage by 57.3% during the third quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust’s stock worth $405,278,000 after buying an additional 405,847 shares in the last quarter. AQR Capital Management LLC boosted its position in Public Storage by 116.7% during the second quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock worth $111,077,000 after acquiring an additional 208,546 shares during the last quarter. Panagora Asset Management Inc. grew its stake in Public Storage by 1,980.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 144,185 shares of the real estate investment trust’s stock valued at $41,475,000 after acquiring an additional 137,256 shares in the last quarter. APG Asset Management US Inc. raised its holdings in Public Storage by 4.8% in the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock valued at $623,485,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in Public Storage in the 2nd quarter worth approximately $278,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 0.4 %

Shares of NYSE PSA opened at $351.36 on Thursday. The stock has a fifty day simple moving average of $343.18 and a 200-day simple moving average of $318.29. Public Storage has a twelve month low of $253.98 and a twelve month high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $61.53 billion, a PE ratio of 36.49, a PEG ratio of 5.78 and a beta of 0.70.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.42%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PSA. Bank of America lowered Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target for the company. in a research report on Monday, August 5th. Wells Fargo & Company cut their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Barclays lowered their price target on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Jefferies Financial Group raised their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Scotiabank boosted their target price on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.