Public Storage (NYSE:PSA) Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd lifted its position in Public Storage (NYSE:PSA) by 14.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,266 shares of the real estate investment trust’s stock after purchasing an additional 933 shares during the quarter. Vinva Investment Management Ltd’s holdings in Public Storage were worth $2,591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage in the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new position in Public Storage in the third quarter valued at approximately $38,000. OFI Invest Asset Management purchased a new position in Public Storage in the second quarter worth approximately $32,000. Opal Wealth Advisors LLC acquired a new stake in Public Storage during the second quarter worth $36,000. Finally, EdgeRock Capital LLC purchased a new stake in Public Storage in the second quarter valued at $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Up 0.4 %

Shares of Public Storage stock opened at $351.36 on Friday. 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 $253.98 and a 52-week high of $369.99. The company has a market capitalization of $61.53 billion, a P/E ratio of 36.49, a P/E/G ratio of 5.84 and a beta of 0.70. The company has a 50 day moving average of $343.04 and a 200 day moving average of $318.52.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.42%. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of research analyst reports. Royal Bank of Canada lowered their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Jefferies Financial Group increased their target price on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Citigroup boosted their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective for the company. in a research report on Monday, August 5th. Finally, Wolfe Research raised Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price of $339.64.

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.