Ontario Teachers Pension Plan Board Has $2.40 Million Stock Position in Public Storage (NYSE:PSA)

Ontario Teachers Pension Plan Board cut its holdings in shares of Public Storage (NYSE:PSA) by 21.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,014 shares of the real estate investment trust’s stock after selling 2,160 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Public Storage were worth $2,400,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Doliver Advisors LP increased its position in 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 worth $433,000 after purchasing an additional 36 shares during the last quarter. Brooklyn Investment Group increased its holdings 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 during the last quarter. Werba Rubin Papier Wealth Management raised its position 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 valued at $681,000 after acquiring an additional 38 shares in the last quarter. Premier Path Wealth Partners LLC raised its position in Public Storage by 3.4% during the fourth 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. lifted its stake in Public Storage by 13.7% in the fourth 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 during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PSA shares. Barclays reissued an “overweight” rating and issued a $354.00 price objective (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Scotiabank raised Public Storage from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the stock from $333.00 to $305.00 in a report on Wednesday, April 9th. Royal Bank of Canada dropped their price target on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Truist Financial raised Public Storage from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a report on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $332.08.

Public Storage Stock Up 2.9 %

PSA stock opened at $288.47 on Tuesday. The company has a market cap of $50.60 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. 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 $256.31 and a 52 week high of $369.99. The business has a 50-day simple moving average of $296.81 and a 200 day simple moving average of $313.14.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a $3.00 dividend. The ex-dividend date was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.16%. Public Storage’s dividend payout ratio (DPR) 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.