BI Asset Management Fondsmaeglerselskab A S Increases Position in Public Storage (NYSE:PSA)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Public Storage (NYSE:PSA - Free Report) by 21.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,603 shares of the real estate investment trust's stock after buying an additional 1,146 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Public Storage were worth $1,977,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. Doliver Advisors LP raised its holdings in shares of Public Storage by 2.6% in the 4th quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust's stock valued at $433,000 after purchasing an additional 36 shares in the last quarter. Brooklyn Investment Group raised its stake in Public Storage by 3.4% in the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock worth $345,000 after buying an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its holdings in Public Storage by 1.7% during the fourth 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. Premier Path Wealth Partners LLC boosted its position in Public Storage by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock valued at $366,000 after acquiring an additional 40 shares in the last quarter. Finally, Global X Japan Co. Ltd. boosted its position in Public Storage by 13.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock valued at $100,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 78.79% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PSA. Truist Financial raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a research report on Thursday, April 10th. Scotiabank raised Public Storage from a "sector perform" rating to a "sector outperform" rating and dropped their target price for the company from $333.00 to $305.00 in a research report on Wednesday, April 9th. Barclays reaffirmed an "overweight" rating and set a $354.00 target price (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and increased their target price for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Mizuho initiated coverage on Public Storage in a research report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $336.25.

Public Storage Stock Performance

PSA traded down $2.94 on Friday, reaching $290.85. 909,822 shares of the stock were exchanged, compared to its average volume of 738,577. The company's 50-day moving average price is $295.33 and its 200 day moving average price is $309.44. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $51.02 billion, a PE ratio of 30.20, a PEG ratio of 4.91 and a beta of 0.76.

Public Storage Dividend Announcement

The business 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. The ex-dividend date was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.13%. Public Storage's payout ratio is currently 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.