Pensionfund DSM Netherlands Has $7.83 Million Position in Public Storage (NYSE:PSA)

Pensionfund DSM Netherlands raised its position in Public Storage (NYSE:PSA) by 11.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,989 shares of the real estate investment trust’s stock after purchasing an additional 2,700 shares during the period. Public Storage accounts for 4.2% of Pensionfund DSM Netherlands’ investment portfolio, making the stock its 5th biggest position. Pensionfund DSM Netherlands’ holdings in Public Storage were worth $7,828,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PSA. Blair William & Co. IL raised its position in shares of Public Storage by 3.1% during the 3rd quarter. Blair William & Co. IL now owns 2,852 shares of the real estate investment trust’s stock valued at $752,000 after buying an additional 85 shares in the last quarter. Aviva PLC raised its position in shares of Public Storage by 74.5% during the 3rd quarter. Aviva PLC now owns 40,153 shares of the real estate investment trust’s stock valued at $10,581,000 after buying an additional 17,140 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of Public Storage by 5.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 17,680 shares of the real estate investment trust’s stock valued at $4,659,000 after buying an additional 843 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Public Storage during the 3rd quarter valued at $4,607,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Public Storage during the 3rd quarter valued at $1,194,000. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Scotiabank raised their price objective on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price on the stock in a research report on Thursday, March 28th. Barclays decreased their target price on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. BMO Capital Markets lifted their target price on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Finally, Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $280.00 to $310.00 in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $303.00.

Public Storage Trading Up 2.7 %

Shares of PSA stock traded up $7.65 during mid-day trading on Tuesday, reaching $291.45. The stock had a trading volume of 898,535 shares, compared to its average volume of 713,550. The stock’s 50-day moving average price is $272.48 and its two-hundred day moving average price is $281.93. Public Storage has a 52-week low of $233.18 and a 52-week high of $312.25. The firm has a market capitalization of $51.22 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 3.96 and a beta of 0.63. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 12th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Wednesday, June 12th. Public Storage’s dividend payout ratio is currently 108.99%.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 400 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $274.29, for a total value of $109,716.00. Following the completion of the transaction, the insider now directly owns 3,214 shares of the company’s stock, valued at $881,568.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Kristy Pipes purchased 2,149 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average cost of $278.96 per share, with a total value of $599,485.04. Following the completion of the purchase, the director now directly owns 2,149 shares in the company, valued at $599,485.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nathaniel A. Vitan sold 400 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $274.29, for a total transaction of $109,716.00. Following the completion of the transaction, the insider now directly owns 3,214 shares of the company’s stock, valued at $881,568.06. The disclosure for this sale can be found here. 11.10% of the stock is owned by insiders.

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.