Public Storage (NYSE:PSA) Shares Bought by Slagle Financial LLC

Slagle Financial LLC lifted its stake in Public Storage (NYSE:PSA) by 11.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,237 shares of the real estate investment trust’s stock after acquiring an additional 1,240 shares during the quarter. Public Storage comprises approximately 1.6% of Slagle Financial LLC’s portfolio, making the stock its 19th largest position. Slagle Financial LLC’s holdings in Public Storage were worth $3,664,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Public Storage by 5.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock valued at $16,089,000 after acquiring an additional 2,566 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in Public Storage by 25.4% during the 4th quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after purchasing an additional 5,793 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Public Storage by 30.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust’s stock worth $40,926,000 after buying an additional 31,662 shares during the period. Meridian Wealth Management LLC acquired a new position in Public Storage in the 4th quarter worth $395,000. Finally, Aew Capital Management L P lifted its holdings in Public Storage by 108.6% in the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock worth $131,574,000 after buying an additional 228,740 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 0.2 %

Public Storage stock opened at $292.21 on Friday. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. 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 firm has a market capitalization of $51.26 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 4.91 and a beta of 0.73. The firm has a 50-day moving average price of $299.95 and a two-hundred day moving average price of $320.70.

Public Storage Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently issued reports on PSA shares. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada cut their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Truist Financial dropped their price target on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Finally, Barclays reissued an “overweight” rating and set a $354.00 price objective (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. 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 company. According to data from MarketBeat.com, the stock has a consensus 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.