Whittier Trust Co. Purchases 1,153 Shares of Public Storage (NYSE:PSA)

Whittier Trust Co. raised its position in shares of Public Storage (NYSE:PSA) by 61.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,021 shares of the real estate investment trust’s stock after buying an additional 1,153 shares during the period. Whittier Trust Co.’s holdings in Public Storage were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC lifted its position in Public Storage by 9.5% during the 3rd quarter. Empowered Funds LLC now owns 2,530 shares of the real estate investment trust’s stock worth $921,000 after buying an additional 220 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Public Storage in the third quarter worth about $1,415,000. Prospera Private Wealth LLC acquired a new position in shares of Public Storage during the third quarter worth approximately $34,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Public Storage by 114.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock valued at $33,302,000 after purchasing an additional 48,803 shares during the last quarter. Finally, Raymond James Trust N.A. raised its position in Public Storage by 11.2% in the 3rd quarter. Raymond James Trust N.A. now owns 2,193 shares of the real estate investment trust’s stock worth $798,000 after purchasing an additional 221 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PSA shares. Truist Financial decreased their price objective on Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company lowered their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Barclays reaffirmed an “overweight” rating and issued a $354.00 target price (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Finally, 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 note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $338.00.

Public Storage Trading Down 1.8 %

PSA opened at $291.19 on Friday. The firm’s fifty day moving average is $299.96 and its two-hundred day moving average is $321.98. The firm has a market cap of $51.08 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Dividend Announcement

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

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.