UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 1,358,493 Shares of Public Storage (NYSE:PSA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Public Storage (NYSE:PSA) by 732.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,543,857 shares of the real estate investment trust’s stock after acquiring an additional 1,358,493 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.88% of Public Storage worth $561,763,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. FMR LLC boosted its position in shares of Public Storage by 20.9% in 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 purchasing an additional 869,066 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Public Storage by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock worth $1,023,080,000 after purchasing an additional 54,992 shares in the last quarter. APG Asset Management US Inc. boosted its position in shares of Public Storage by 4.8% in the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock worth $623,485,000 after purchasing an additional 100,000 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Public Storage by 8.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock worth $343,968,000 after purchasing an additional 95,080 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Public Storage by 57.3% in 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 purchasing an additional 405,847 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PSA. Morgan Stanley boosted their price target on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Truist Financial lowered shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective for the company. in a report on Thursday, August 1st. Jefferies Financial Group boosted their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company decreased their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $339.64.

Public Storage Stock Up 0.4 %

Shares of NYSE PSA opened at $351.36 on Friday. The firm has a 50-day simple moving average of $343.04 and a two-hundred day simple moving average of $318.52. 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 has a 1 year low of $253.98 and a 1 year high of $369.99. The company has a market cap of $61.53 billion, a P/E ratio of 36.49, a PEG ratio of 5.84 and a beta of 0.70.

Public Storage Dividend Announcement

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

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.