Te Ahumairangi Investment Management Ltd Sells 350 Shares of Public Storage (NYSE:PSA)

Te Ahumairangi Investment Management Ltd reduced its holdings in Public Storage (NYSE:PSA) by 2.4% during the 4th quarter, Holdings Channel reports. The fund owned 14,402 shares of the real estate investment trust’s stock after selling 350 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Public Storage were worth $4,313,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Doliver Advisors LP raised its holdings in Public Storage by 2.6% in the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust’s stock worth $433,000 after purchasing an additional 36 shares during the period. Brooklyn Investment Group increased its position in shares of Public Storage by 3.4% in the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock valued at $345,000 after buying an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management raised its stake in Public Storage by 1.7% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock worth $681,000 after buying an additional 38 shares during the period. Continuum Advisory LLC lifted its holdings in Public Storage by 7.6% during the third quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 39 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in Public Storage by 2.4% in the third quarter. TD Private Client Wealth LLC now owns 1,695 shares of the real estate investment trust’s stock valued at $617,000 after acquiring an additional 39 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on PSA. Truist Financial dropped their price target 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. 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 research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company cut 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 report on Friday, February 21st. Finally, Royal Bank of Canada lowered their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and an average price target of $338.73.

Public Storage Stock Down 0.1 %

Shares of PSA stock opened at $299.02 on Wednesday. The firm’s fifty day moving average price is $300.01 and its two-hundred day moving average price is $318.91. 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 1 year low of $256.31 and a 1 year high of $369.99. The firm has a market capitalization of $52.45 billion, a P/E ratio of 31.05, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s dividend payout ratio 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.