Stevens Capital Management LP Buys Shares of 3,132 Public Storage (NYSE:PSA)

Stevens Capital Management LP purchased a new stake in Public Storage (NYSE:PSA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,132 shares of the real estate investment trust’s stock, valued at approximately $938,000.

Other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Public Storage by 5.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock worth $16,089,000 after buying an additional 2,566 shares during the period. Capital Investment Advisors LLC boosted its holdings in shares of Public Storage by 25.4% in the 4th quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after buying an additional 5,793 shares in the last quarter. Larson Financial Group LLC boosted its stake in Public Storage by 3,714.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock worth $666,000 after purchasing an additional 1,783 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Public Storage by 30.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust’s stock worth $40,926,000 after purchasing an additional 31,662 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Public Storage by 114.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock worth $33,302,000 after purchasing an additional 48,803 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Down 1.8 %

PSA opened at $291.19 on Friday. The firm has a market capitalization of $51.08 billion, a P/E ratio of 30.24, a P/E/G ratio of 4.91 and a beta of 0.73. The firm’s 50 day moving average is $299.96 and its 200-day moving average is $321.98. Public Storage has a 52-week low of $256.31 and a 52-week 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.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.12%. Public Storage’s dividend payout ratio is currently 112.89%.

Analysts Set New Price Targets

Several research firms have recently commented on PSA. Scotiabank reduced their target price 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, March 5th. Barclays reiterated an “overweight” rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Royal Bank of Canada dropped their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Truist Financial decreased their price target on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $338.00.

Public Storage 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.