Krane Funds Advisors LLC Sells 145 Shares of Public Storage (NYSE:PSA)

Krane Funds Advisors LLC reduced its position in Public Storage (NYSE:PSA) by 9.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,380 shares of the real estate investment trust’s stock after selling 145 shares during the period. Krane Funds Advisors LLC’s holdings in Public Storage were worth $413,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PSA. Rathbones Group PLC boosted its holdings in Public Storage by 42.4% in the 4th quarter. Rathbones Group PLC now owns 47,797 shares of the real estate investment trust’s stock worth $14,312,000 after buying an additional 14,221 shares during the period. Twin Capital Management Inc. boosted its holdings in shares of Public Storage by 3.6% in the fourth quarter. Twin Capital Management Inc. now owns 4,431 shares of the real estate investment trust’s stock worth $1,327,000 after acquiring an additional 152 shares during the period. Invesco Ltd. grew its position in shares of Public Storage by 2.6% in the fourth quarter. Invesco Ltd. now owns 1,099,249 shares of the real estate investment trust’s stock valued at $329,159,000 after purchasing an additional 27,693 shares in the last quarter. Polymer Capital Management US LLC bought a new stake in shares of Public Storage during the 4th quarter valued at $209,000. Finally, Aster Capital Management DIFC Ltd lifted its holdings in Public Storage by 245.8% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,850 shares of the real estate investment trust’s stock worth $554,000 after purchasing an additional 1,315 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PSA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Scotiabank decreased their target price on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Truist Financial lowered their price objective on Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Royal Bank of Canada reduced their target price 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. Finally, Barclays reissued an “overweight” rating and set a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a 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.com, Public Storage presently has a consensus rating of “Moderate Buy” and an average price target of $338.73.

Public Storage Trading Down 3.6 %

Shares of PSA opened at $284.00 on Monday. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The firm has a market cap of $49.82 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 4.91 and a beta of 0.76. The firm has a 50 day moving average price of $300.05 and a 200-day moving average price of $317.46. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.23%. Public Storage’s dividend payout ratio (DPR) is currently 112.89%.

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.