Elo Mutual Pension Insurance Co Purchases 1,974 Shares of Public Storage (NYSE:PSA)

Elo Mutual Pension Insurance Co lifted its position in shares of Public Storage (NYSE:PSA) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,935 shares of the real estate investment trust’s stock after purchasing an additional 1,974 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Public Storage were worth $4,772,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PSA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Public Storage by 732.9% in the third 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 acquiring an additional 1,358,493 shares in the last quarter. Adelante Capital Management LLC increased its position in shares of Public Storage by 389.9% during the third quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock valued at $532,465,000 after buying an additional 1,164,630 shares during the period. Amundi lifted its holdings in Public Storage by 54.0% in the fourth quarter. Amundi now owns 779,882 shares of the real estate investment trust’s stock worth $230,426,000 after buying an additional 273,486 shares during the period. Aew Capital Management L P boosted its position in Public Storage by 108.6% during the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock valued at $131,574,000 after acquiring an additional 228,740 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Public Storage during the 4th quarter worth approximately $66,253,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of PSA opened at $292.21 on Friday. The firm has a market cap of $51.26 billion, a PE ratio of 30.34, a P/E/G ratio of 4.91 and a beta of 0.73. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The firm has a fifty day simple moving average of $299.95 and a two-hundred day simple moving average of $320.70.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSA. Scotiabank dropped their price target on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. Barclays reissued an “overweight” rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Wells Fargo & Company cut their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Truist Financial reduced their price objective on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Seven research 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $338.00.

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.