Pitcairn Co. Has $252,000 Stock Holdings in Public Storage (NYSE:PSA)

Pitcairn Co. lifted its position in Public Storage (NYSE:PSA) by 15.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 868 shares of the real estate investment trust’s stock after buying an additional 119 shares during the quarter. Pitcairn Co.’s holdings in Public Storage were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Public Storage by 1.0% in the first quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock worth $6,075,681,000 after buying an additional 217,487 shares during the last quarter. Norges Bank acquired a new stake in shares of Public Storage in the fourth quarter worth $821,151,000. Charles Schwab Investment Management Inc. increased its position in Public Storage by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,687,170 shares of the real estate investment trust’s stock worth $794,161,000 after acquiring an additional 216,331 shares during the period. APG Asset Management US Inc. increased its position in Public Storage by 4.7% during the fourth quarter. APG Asset Management US Inc. now owns 2,074,617 shares of the real estate investment trust’s stock worth $632,758,000 after acquiring an additional 93,122 shares during the period. Finally, Centersquare Investment Management LLC increased its position in Public Storage by 17.2% during the first quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock worth $343,573,000 after acquiring an additional 173,975 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Down 0.2 %

Shares of NYSE:PSA opened at $294.91 on Friday. Public Storage has a 52 week low of $233.18 and a 52 week high of $314.93. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.54 and a current ratio of 0.54. The company’s fifty day moving average is $286.41 and its 200-day moving average is $282.60. The company has a market capitalization of $51.82 billion, a PE ratio of 26.79, a P/E/G ratio of 4.31 and a beta of 0.65.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Wednesday, June 12th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.07%. Public Storage’s dividend payout ratio (DPR) is 108.99%.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of research reports. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price on the stock in a research report on Thursday, March 28th. Scotiabank boosted their target price on shares of Public Storage from $289.00 to $314.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. Wells Fargo & Company boosted their price target on shares of Public Storage from $310.00 to $320.00 and gave the company an “overweight” rating in a report on Friday. Evercore ISI boosted their price target on shares of Public Storage from $289.00 to $300.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Finally, Barclays lowered their price target on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.55.

Insider Buying and Selling

In related news, Director Kristy Pipes purchased 2,149 shares of Public Storage stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the transaction, the director now directly owns 2,149 shares in the company, valued at $599,485.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Public Storage news, insider Nathaniel A. Vitan sold 400 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $274.29, for a total transaction of $109,716.00. Following the transaction, the insider now directly owns 3,214 shares in the company, valued at approximately $881,568.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kristy Pipes bought 2,149 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the completion of the transaction, the director now owns 2,149 shares in the company, valued at approximately $599,485.04. The disclosure for this purchase can be found here. 11.00% of the stock is owned by corporate insiders.

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.