Public Storage (NYSE:PSA) is Pensionfund DSM Netherlands’ 6th Largest Position

Pensionfund DSM Netherlands reduced its stake in shares of Public Storage (NYSE:PSA) by 20.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,189 shares of the real estate investment trust’s stock after selling 6,000 shares during the period. Public Storage makes up approximately 4.3% of Pensionfund DSM Netherlands’ portfolio, making the stock its 6th biggest holding. Pensionfund DSM Netherlands’ holdings in Public Storage were worth $6,944,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in Public Storage by 12.9% during the second quarter. Victory Capital Management Inc. now owns 82,440 shares of the real estate investment trust’s stock worth $23,714,000 after acquiring an additional 9,411 shares during the period. New York Life Investment Management LLC grew its stake in shares of Public Storage by 0.9% during the 2nd quarter. New York Life Investment Management LLC now owns 24,119 shares of the real estate investment trust’s stock worth $6,938,000 after purchasing an additional 226 shares during the period. Private Advisor Group LLC increased its holdings in shares of Public Storage by 13.4% during the 2nd quarter. Private Advisor Group LLC now owns 5,161 shares of the real estate investment trust’s stock valued at $1,485,000 after purchasing an additional 610 shares in the last quarter. Candriam S.C.A. lifted its stake in shares of Public Storage by 4.5% in the 2nd quarter. Candriam S.C.A. now owns 13,020 shares of the real estate investment trust’s stock valued at $3,745,000 after purchasing an additional 562 shares during the period. Finally, Savant Capital LLC boosted its holdings in Public Storage by 342.5% during the second quarter. Savant Capital LLC now owns 8,284 shares of the real estate investment trust’s stock worth $2,383,000 after buying an additional 6,412 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insider Activity

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

Public Storage Stock Down 0.2 %

Shares of Public Storage stock traded down $0.62 during trading hours on Monday, hitting $299.83. The company had a trading volume of 62,031 shares, compared to its average volume of 411,969. The company’s 50-day moving average is $324.74 and its two-hundred day moving average is $325.52. 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 current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $52.50 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 5.29 and a beta of 0.74.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

Analysts Set New Price Targets

A number of research firms have weighed in on PSA. Truist Financial lifted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Barclays lowered their target price on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Jefferies Financial Group lifted their target price on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Morgan Stanley increased their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their price objective 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average price target of $342.07.

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.