Czech National Bank Grows Stock Holdings in Public Storage (NYSE:PSA)

Czech National Bank increased its stake in Public Storage (NYSE:PSA) by 6.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,170 shares of the real estate investment trust’s stock after buying an additional 2,083 shares during the period. Czech National Bank’s holdings in Public Storage were worth $10,232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. Acadian Asset Management LLC purchased a new stake in shares of Public Storage in the second quarter worth $1,459,000. Choreo LLC purchased a new stake in Public Storage during the 2nd quarter valued at about $476,000. Oppenheimer & Co. Inc. grew its position in Public Storage by 5.7% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 8,217 shares of the real estate investment trust’s stock valued at $2,364,000 after purchasing an additional 445 shares during the last quarter. Dai ichi Life Insurance Company Ltd increased its stake in Public Storage by 98.9% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 10,054 shares of the real estate investment trust’s stock valued at $2,892,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Wealthspire Advisors LLC raised its holdings in Public Storage by 24.6% in the second quarter. Wealthspire Advisors LLC now owns 1,116 shares of the real estate investment trust’s stock worth $321,000 after buying an additional 220 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 0.3 %

Shares of Public Storage stock opened at $290.00 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $50.78 billion, a PE ratio of 30.11, a P/E/G ratio of 5.29 and a beta of 0.74. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company’s fifty day simple moving average is $320.23 and its 200-day simple moving average is $325.68.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.14%. The ex-dividend date was Friday, December 13th. Public Storage’s dividend payout ratio is presently 124.61%.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’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 transaction of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

PSA has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the company from $298.00 to $299.00 in a research report on Friday. Morgan Stanley boosted their price target on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company dropped their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada decreased their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Finally, Truist Financial lifted their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $344.54.

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.