US Bancorp DE Has $17.86 Million Holdings in Public Storage (NYSE:PSA)

US Bancorp DE reduced its position in Public Storage (NYSE:PSA) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,080 shares of the real estate investment trust’s stock after selling 608 shares during the quarter. US Bancorp DE’s holdings in Public Storage were worth $17,859,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PSA. Canada Pension Plan Investment Board lifted its holdings in shares of Public Storage by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust’s stock worth $319,270,000 after acquiring an additional 281,800 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Public Storage by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after purchasing an additional 219,391 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Public Storage by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after purchasing an additional 217,487 shares during the period. AQR Capital Management LLC raised its holdings in shares of Public Storage by 116.7% in the 2nd quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock worth $111,077,000 after buying an additional 208,546 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Public Storage by 17.2% during the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock worth $343,573,000 after buying an additional 173,975 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PSA shares. Evercore ISI dropped their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Morgan Stanley lifted their price target on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on shares of Public Storage from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research note on Monday, August 5th. Finally, Truist Financial lowered Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $341.43.

Public Storage Price Performance

Public Storage stock opened at $323.66 on Friday. The stock has a market cap of $56.65 billion, a price-to-earnings ratio of 33.61, a P/E/G ratio of 4.64 and a beta of 0.70. Public Storage has a 12-month low of $241.60 and a 12-month high of $369.99. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The business’s 50-day simple moving average is $347.69 and its 200 day simple moving average is $309.14.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is 124.61%.

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.