Schroder Investment Management Group Boosts Holdings in Public Storage (NYSE:PSA)

Schroder Investment Management Group lifted its stake in shares of Public Storage (NYSE:PSA) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 327,243 shares of the real estate investment trust’s stock after acquiring an additional 27,184 shares during the period. Schroder Investment Management Group owned 0.19% of Public Storage worth $96,802,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Public Storage during the 3rd quarter worth $378,000. Townsquare Capital LLC grew its position in Public Storage by 42.6% during the third quarter. Townsquare Capital LLC now owns 3,981 shares of the real estate investment trust’s stock valued at $1,449,000 after acquiring an additional 1,189 shares during the period. CreativeOne Wealth LLC acquired a new stake in Public Storage during the third quarter worth about $248,000. Financial Counselors Inc. purchased a new position in shares of Public Storage in the 3rd quarter worth about $950,000. Finally, Walleye Capital LLC acquired a new position in shares of Public Storage in the 3rd quarter valued at about $262,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSA has been the subject of a number of research analyst reports. Barclays reissued an “overweight” rating and set a $354.00 target price (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Truist Financial dropped their price objective on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada lowered their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Finally, Scotiabank reduced their price objective on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average price target of $338.73.

Public Storage Trading Up 0.8 %

NYSE:PSA opened at $294.25 on Monday. The company has a market cap of $51.62 billion, a PE ratio of 30.56, a P/E/G ratio of 4.91 and a beta of 0.73. The business’s 50 day moving average is $299.91 and its two-hundred day moving average is $319.75. 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 has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Dividend Announcement

The firm 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. This represents a $12.00 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Thursday, March 13th. Public Storage’s dividend payout ratio is presently 112.89%.

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.