Teacher Retirement System of Texas Purchases 31,759 Shares of Public Storage (NYSE:PSA)

Teacher Retirement System of Texas grew its position in shares of Public Storage (NYSE:PSA) by 45.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,404 shares of the real estate investment trust’s stock after purchasing an additional 31,759 shares during the quarter. Teacher Retirement System of Texas’ holdings in Public Storage were worth $30,364,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Quent Capital LLC increased its position in shares of Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Public Storage during the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC bought a new position in Public Storage during the 4th quarter worth approximately $38,000. Toth Financial Advisory Corp grew its position in Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 66 shares during the last quarter. Finally, McIlrath & Eck LLC grew its position in Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 43 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and raised their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Scotiabank reduced 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. Royal Bank of Canada dropped their price objective 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. Barclays reiterated an “overweight” rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Finally, Truist Financial dropped their price objective on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a report on Tuesday. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $338.00.

Public Storage Trading Up 0.2 %

PSA opened at $296.12 on Friday. The stock has a market cap of $51.94 billion, a PE ratio of 30.75, a PEG ratio of 4.91 and a beta of 0.73. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The business has a 50 day moving average of $299.91 and a 200-day moving average of $322.48. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

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.