Public Storage (NYSE:PSA) Stock Holdings Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of Public Storage (NYSE:PSA) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 214,382 shares of the real estate investment trust’s stock after buying an additional 3,973 shares during the period. Principal Financial Group Inc. owned 0.12% of Public Storage worth $78,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Prospera Private Wealth LLC bought a new position in shares of Public Storage during the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new position in Public Storage during the 3rd quarter valued at approximately $38,000. Compagnie Lombard Odier SCmA bought a new position in Public Storage during the 3rd quarter worth $50,000. Harbor Capital Advisors Inc. acquired a new stake in Public Storage in the third quarter worth $55,000. Finally, Deseret Mutual Benefit Administrators lifted its stake in Public Storage by 39.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 206 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the sale, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.00% of the company’s stock.

Public Storage Stock Up 2.8 %

NYSE PSA opened at $297.50 on Friday. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The company has a market capitalization of $52.09 billion, a P/E ratio of 30.89, a PEG ratio of 5.29 and a beta of 0.71. The company’s 50 day simple moving average is $333.10 and its 200 day simple moving average is $323.89. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.03%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Analyst Ratings Changes

A number of analysts recently weighed in on PSA shares. Truist Financial increased their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Barclays dropped their price target on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Royal Bank of Canada reduced 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. Jefferies Financial Group raised their target price on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Evercore ISI reduced their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $342.07.

Public Storage Company 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.