Versor Investments LP Sells 243 Shares of Public Storage (NYSE:PSA)

Versor Investments LP lowered its stake in shares of Public Storage (NYSE:PSA) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,267 shares of the real estate investment trust’s stock after selling 243 shares during the period. Versor Investments LP’s holdings in Public Storage were worth $1,278,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in Public Storage by 0.5% during the third quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock worth $3,773,571,000 after buying an additional 55,123 shares during the last quarter. FMR LLC lifted its holdings in Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock valued at $1,828,763,000 after purchasing an additional 869,066 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Public Storage by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock valued at $1,425,941,000 after purchasing an additional 52,807 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Public Storage by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock worth $1,023,080,000 after buying an additional 54,992 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Public Storage by 732.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock valued at $561,763,000 after buying an additional 1,358,493 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Barclays dropped their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Royal Bank of Canada reduced their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Wells Fargo & Company reduced their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $340.69.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the sale, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 11.00% of the company’s stock.

Public Storage Trading Down 1.3 %

Shares of Public Storage stock opened at $304.45 on Thursday. The firm has a market capitalization of $53.31 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm’s 50 day moving average is $297.85 and its 200 day moving average is $325.31. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.94%. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

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.