Public Storage (NYSE:PSA) Shares Acquired by Midwest Professional Planners LTD.

Midwest Professional Planners LTD. lifted its holdings in shares of Public Storage (NYSE:PSA) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,865 shares of the real estate investment trust’s stock after buying an additional 489 shares during the quarter. Midwest Professional Planners LTD.’s holdings in Public Storage were worth $2,056,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. State Street Corp raised its stake in shares of Public Storage by 0.5% during the 3rd quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock worth $3,773,571,000 after buying an additional 55,123 shares during the period. FMR LLC increased its position in shares of Public Storage by 20.9% during the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after purchasing an additional 869,066 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Public Storage by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock worth $1,425,941,000 after purchasing an additional 52,807 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Public Storage by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock worth $1,023,080,000 after purchasing an additional 54,992 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Public Storage by 732.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock worth $561,763,000 after purchasing an additional 1,358,493 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on PSA shares. Barclays reiterated an “overweight” rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday. Scotiabank dropped their price target on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Royal Bank of Canada dropped their price target on 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. Truist Financial boosted their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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 report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $339.69.

Public Storage Stock Performance

NYSE PSA opened at $292.66 on Friday. The stock has a market cap of $51.34 billion, a PE ratio of 30.39, a P/E/G ratio of 4.91 and a beta of 0.73. 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 has a twelve month low of $256.31 and a twelve month high of $369.99. The stock has a fifty day simple moving average of $299.84 and a 200-day simple moving average of $324.01.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio is presently 112.89%.

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.