Public Employees Retirement Association of Colorado Reduces Stock Holdings in Public Storage (NYSE:PSA)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Public Storage (NYSE:PSA) by 2.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 21,211 shares of the real estate investment trust’s stock after selling 589 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Public Storage were worth $6,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSA. Barclays PLC grew its stake in Public Storage by 2.9% during the 3rd quarter. Barclays PLC now owns 465,653 shares of the real estate investment trust’s stock worth $169,433,000 after buying an additional 13,065 shares during the last quarter. McIlrath & Eck LLC grew its stake in Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 43 shares during the last quarter. World Investment Advisors LLC purchased a new position in Public Storage during the 3rd quarter worth $3,713,000. Wilmington Savings Fund Society FSB purchased a new position in Public Storage during the 3rd quarter worth $1,466,000. Finally, Tidal Investments LLC lifted its position in Public Storage by 30.3% during the 3rd quarter. Tidal Investments LLC now owns 11,386 shares of the real estate investment trust’s stock worth $4,143,000 after acquiring an additional 2,646 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Up 0.3 %

NYSE PSA opened at $291.76 on Tuesday. The business has a fifty day moving average price of $295.22 and a 200 day moving average price of $309.08. 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 company has a market cap of $51.18 billion, a P/E ratio of 30.30, a P/E/G ratio of 4.91 and a beta of 0.76. Public Storage has a one year low of $256.31 and a one year high of $369.99.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders 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 yield of 4.11%. Public Storage’s payout ratio is currently 112.89%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PSA. Mizuho began coverage on Public Storage in a research report on Wednesday, April 9th. They set a “neutral” rating and a $287.00 price target for the company. Bank of America raised Public Storage from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $349.00 to $368.00 in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Scotiabank raised Public Storage from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the company from $333.00 to $305.00 in a report on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Five 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’s stock. According to data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average price target of $336.25.

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.