Vinva Investment Management Ltd Buys 736 Shares of Public Storage (NYSE:PSA)

Vinva Investment Management Ltd grew its holdings in Public Storage (NYSE:PSA) by 10.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,002 shares of the real estate investment trust’s stock after buying an additional 736 shares during the period. Vinva Investment Management Ltd’s holdings in Public Storage were worth $2,367,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PSA. GSA Capital Partners LLP acquired a new stake in Public Storage in the third quarter worth about $512,000. OneDigital Investment Advisors LLC boosted its holdings in Public Storage by 6.9% in the third quarter. OneDigital Investment Advisors LLC now owns 1,770 shares of the real estate investment trust’s stock worth $644,000 after acquiring an additional 115 shares in the last quarter. Empowered Funds LLC boosted its holdings in Public Storage by 9.5% in the third quarter. Empowered Funds LLC now owns 2,530 shares of the real estate investment trust’s stock worth $921,000 after acquiring an additional 220 shares in the last quarter. Claro Advisors LLC acquired a new stake in Public Storage in the third quarter worth about $227,000. Finally, Thrivent Financial for Lutherans boosted its holdings in Public Storage by 35.7% in the third quarter. Thrivent Financial for Lutherans now owns 46,608 shares of the real estate investment trust’s stock worth $16,959,000 after acquiring an additional 12,249 shares in 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 weighed in on PSA shares. 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. Wells Fargo & Company decreased their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Barclays reaffirmed an “overweight” rating and set a $354.00 target price (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Truist Financial decreased their target price on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Scotiabank decreased their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $338.00.

Public Storage Stock Down 1.0 %

Shares of PSA stock opened at $295.57 on Thursday. The stock has a 50 day moving average of $299.90 and a 200 day moving average of $322.67. 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 stock has a market cap of $51.85 billion, a P/E ratio of 30.69, a P/E/G ratio of 4.91 and a beta of 0.73. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio is currently 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.