Pictet Asset Management Holding SA Sells 6,858 Shares of Public Storage (NYSE:PSA)

Pictet Asset Management Holding SA trimmed its holdings in shares of Public Storage (NYSE:PSA) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,523 shares of the real estate investment trust’s stock after selling 6,858 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Public Storage worth $32,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PSA. Dynamic Technology Lab Private Ltd purchased a new position in Public Storage during the third quarter valued at approximately $378,000. Townsquare Capital LLC increased its holdings in shares of Public Storage by 42.6% in the 3rd quarter. Townsquare Capital LLC now owns 3,981 shares of the real estate investment trust’s stock valued at $1,449,000 after acquiring an additional 1,189 shares during the period. CreativeOne Wealth LLC purchased a new stake in shares of Public Storage during the 3rd quarter worth $248,000. Financial Counselors Inc. bought a new stake in Public Storage during the third quarter valued at about $950,000. Finally, Walleye Capital LLC purchased a new position in Public Storage in the third quarter valued at about $262,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on PSA shares. Scotiabank decreased their price target on shares of 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 lowered their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Truist Financial lowered their price objective on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Finally, Barclays reaffirmed an “overweight” rating and set a $354.00 target price (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $338.73.

Public Storage Trading Up 0.8 %

Shares of NYSE:PSA opened at $294.25 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The stock has a market cap of $51.62 billion, a price-to-earnings ratio of 30.56, a PEG ratio of 4.91 and a beta of 0.73. The business has a 50-day moving average price of $299.91 and a 200-day moving average price of $319.75.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

Public Storage Company 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.