Natixis Advisors LLC Grows Position in Public Storage (NYSE:PSA)

Natixis Advisors LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 2.6% during the third quarter, Holdings Channel reports. The fund owned 62,958 shares of the real estate investment trust’s stock after purchasing an additional 1,578 shares during the quarter. Natixis Advisors LLC’s holdings in Public Storage were worth $22,908,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of Public Storage during the 2nd quarter worth about $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Public Storage during the second quarter valued at approximately $36,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the 3rd quarter worth approximately $38,000. Crewe Advisors LLC acquired a new position in Public Storage in the 1st quarter valued at $39,000. Finally, EdgeRock Capital LLC acquired a new position in Public Storage in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PSA shares. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective for the company. in a research report on Monday, August 5th. Scotiabank lifted their price target on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Barclays decreased their target price on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, Citigroup boosted their target price on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Stock Up 0.7 %

Shares of Public Storage stock opened at $337.29 on Tuesday. Public Storage has a twelve month low of $251.49 and a twelve month high of $369.99. The stock has a market cap of $59.06 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 5.57 and a beta of 0.70. 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 company has a fifty day moving average price of $345.71 and a 200 day moving average price of $315.16.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Friday, December 13th. Public Storage’s payout ratio is 124.61%.

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.