National Bank of Canada FI Has $30.40 Million Position in Public Storage (NYSE:PSA)

National Bank of Canada FI lifted its stake in shares of Public Storage (NYSE:PSA) by 6.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 83,545 shares of the real estate investment trust’s stock after buying an additional 5,357 shares during the quarter. National Bank of Canada FI’s holdings in Public Storage were worth $30,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Petredis Investment Advisors LLC grew its position in shares of Public Storage by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock valued at $2,497,000 after purchasing an additional 30 shares during the last quarter. S.A. Mason LLC boosted its stake in Public Storage by 3.8% in the 3rd quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 30 shares during the period. Haverford Trust Co grew its holdings in Public Storage by 0.7% in the 3rd quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock valued at $1,558,000 after buying an additional 30 shares in the last quarter. Huntington National Bank increased its position in Public Storage by 5.4% during the 3rd quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 33 shares during the period. Finally, Chesapeake Wealth Management lifted its holdings in shares of Public Storage by 2.2% during the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 33 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PSA shares. Truist Financial upped their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday. Royal Bank of Canada decreased their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Citigroup lifted their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Scotiabank increased their price target on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Finally, Wolfe Research raised Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $342.07.

Public Storage Stock Performance

NYSE:PSA opened at $334.00 on Monday. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock’s 50-day simple moving average is $340.38 and its 200 day simple moving average is $321.30. The firm has a market capitalization of $58.49 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 5.56 and a beta of 0.71.

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 $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.59%. Public Storage’s payout ratio is currently 124.61%.

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.