Public Storage (NYSE:PSA) Shares Purchased by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC grew its stake in shares of Public Storage (NYSE:PSA) by 109.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 861 shares of the real estate investment trust’s stock after purchasing an additional 449 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Public Storage were worth $255,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 during the last quarter. Adelante Capital Management LLC increased its stake in shares of Public Storage by 389.9% in the third 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 purchasing an additional 1,164,630 shares during the period. FMR LLC raised its holdings in shares of Public Storage by 20.9% during the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock valued at $1,828,763,000 after buying an additional 869,066 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Public Storage by 57.3% during the third quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust’s stock valued at $405,278,000 after buying an additional 405,847 shares during the last quarter. Finally, Aew Capital Management L P boosted its position in shares of Public Storage by 108.6% during the fourth quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock worth $131,574,000 after buying an additional 228,740 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Up 1.8 %

Shares of NYSE:PSA opened at $311.58 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $54.66 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 4.91 and a beta of 0.74. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a 50 day moving average price of $298.85 and a 200 day moving average price of $324.95.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada cut their price objective on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Truist Financial increased their target price on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and boosted their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Scotiabank reduced their price target on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price of $340.23.

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.