Natixis Advisors LLC Buys 15,318 Shares of Public Storage (NYSE:PSA)

Natixis Advisors LLC grew its stake in Public Storage (NYSE:PSA) by 24.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,276 shares of the real estate investment trust’s stock after purchasing an additional 15,318 shares during the period. Natixis Advisors LLC’s holdings in Public Storage were worth $23,439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Public Storage by 732.9% in 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 valued at $561,763,000 after buying an additional 1,358,493 shares in the last quarter. Adelante Capital Management LLC boosted its holdings in shares of Public Storage by 389.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock valued at $532,465,000 after acquiring an additional 1,164,630 shares in the last quarter. FMR LLC grew its position in Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after acquiring an additional 869,066 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Public Storage by 57.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust’s stock worth $405,278,000 after acquiring an additional 405,847 shares during the last quarter. Finally, Amundi increased its holdings in Public Storage by 54.0% in the 4th quarter. Amundi now owns 779,882 shares of the real estate investment trust’s stock worth $230,426,000 after purchasing an additional 273,486 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial lifted their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada decreased their price target on shares of 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. Scotiabank cut 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 report on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and an average target price of $339.69.

Public Storage Stock Up 0.7 %

Shares of Public Storage stock opened at $300.37 on Tuesday. The stock’s 50-day moving average is $299.89 and its 200 day moving average is $323.18. Public Storage has a one year low of $256.31 and a one year high of $369.99. The firm has a market cap of $52.69 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 4.91 and a beta of 0.73. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is 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.