Thrivent Financial for Lutherans Has $8.64 Million Stake in Public Storage (NYSE:PSA)

Thrivent Financial for Lutherans trimmed its holdings in shares of Public Storage (NYSE:PSA) by 38.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,676 shares of the real estate investment trust’s stock after selling 17,932 shares during the period. Thrivent Financial for Lutherans’ holdings in Public Storage were worth $8,639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Empowered Funds LLC increased its holdings in Public Storage by 9.5% during the 3rd quarter. Empowered Funds LLC now owns 2,530 shares of the real estate investment trust’s stock valued at $921,000 after purchasing an additional 220 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Public Storage in the 3rd quarter valued at $1,415,000. Prospera Private Wealth LLC bought a new position in Public Storage in the 3rd quarter valued at $34,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Public Storage by 114.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock valued at $33,302,000 after buying an additional 48,803 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its position in Public Storage by 11.2% in the 3rd quarter. Raymond James Trust N.A. now owns 2,193 shares of the real estate investment trust’s stock valued at $798,000 after buying an additional 221 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Performance

PSA stock opened at $291.19 on Friday. The business’s 50-day moving average price is $299.96 and its two-hundred day moving average price is $321.98. 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 firm has a market cap of $51.08 billion, a PE ratio of 30.24, a P/E/G ratio of 4.91 and a beta of 0.73. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 4.12%. Public Storage’s dividend payout ratio is presently 112.89%.

Analyst Ratings Changes

PSA has been the topic of a number of recent research reports. Scotiabank decreased their price objective on 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. Barclays reiterated an “overweight” rating and issued a $354.00 price objective (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada decreased their price objective on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $338.00.

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.