906 Shares in Public Storage (NYSE:PSA) Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. bought a new position in Public Storage (NYSE:PSA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 906 shares of the real estate investment trust’s stock, valued at approximately $271,000.

Other hedge funds have also modified their holdings of the company. M&G PLC acquired a new position in Public Storage during the third quarter valued at approximately $215,000. Graypoint LLC acquired a new position in Public Storage during the third quarter valued at approximately $253,000. Principal Financial Group Inc. lifted its position in Public Storage by 1.9% during the third quarter. Principal Financial Group Inc. now owns 214,382 shares of the real estate investment trust’s stock valued at $78,007,000 after buying an additional 3,973 shares in the last quarter. Lindbrook Capital LLC lifted its position in Public Storage by 5.2% during the third quarter. Lindbrook Capital LLC now owns 917 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 45 shares in the last quarter. Finally, XML Financial LLC lifted its position in Public Storage by 1.4% during the third quarter. XML Financial LLC now owns 8,449 shares of the real estate investment trust’s stock valued at $3,074,000 after buying an additional 113 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Up 1.8 %

Shares of NYSE:PSA opened at $313.99 on Monday. 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 company has a fifty day simple moving average of $299.31 and a 200 day simple moving average of $324.74. 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. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.82%. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction on 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. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PSA. Scotiabank reduced 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. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company dropped their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Truist Financial lifted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Finally, Barclays dropped their price objective on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $340.23.

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.