Te Ahumairangi Investment Management Ltd Has $4.31 Million Stock Holdings in Public Storage (NYSE:PSA)

Te Ahumairangi Investment Management Ltd decreased its position in Public Storage (NYSE:PSA) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,402 shares of the real estate investment trust’s stock after selling 350 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Public Storage were worth $4,313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PSA. Quent Capital LLC raised its holdings in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 50 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the fourth quarter valued at about $38,000. Millstone Evans Group LLC bought a new position in shares of Public Storage in the fourth quarter worth about $38,000. Toth Financial Advisory Corp lifted its position in shares of Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 66 shares during the last quarter. Finally, McIlrath & Eck LLC boosted its stake in Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 43 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Down 0.1 %

NYSE PSA opened at $299.02 on Wednesday. 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 $52.45 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 4.91 and a beta of 0.73. The stock’s 50 day moving average is $300.01 and its two-hundred day moving average is $318.91. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s dividend payout ratio is 112.89%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Truist Financial cut their price target on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Scotiabank decreased 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 report on Wednesday, March 5th. Royal Bank of Canada cut their price objective on shares of 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. Finally, Wells Fargo & Company reduced their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $338.73.

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.