Public Storage (NYSE:PSA) Shares Purchased by Mariner LLC

Mariner LLC grew its holdings in Public Storage (NYSE:PSA) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,665 shares of the real estate investment trust’s stock after buying an additional 228 shares during the quarter. Mariner LLC’s holdings in Public Storage were worth $10,380,000 as of its most recent SEC filing.

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

Public Storage Stock Up 2.3 %

PSA stock opened at $295.75 on Friday. The firm has a market cap of $51.88 billion, a PE ratio of 30.71, a PEG ratio of 4.91 and a beta of 0.76. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s 50 day moving average price is $296.12 and its 200-day moving average price is $312.33.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

Analysts Set New Price Targets

PSA has been the topic of several research reports. Scotiabank upgraded Public Storage from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the company from $333.00 to $305.00 in a research report on Wednesday, April 9th. Mizuho began coverage on shares of Public Storage in a research note on Wednesday, April 9th. They set a “neutral” rating and a $287.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised shares of 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 note on Friday, January 10th. Finally, Royal Bank of Canada decreased their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $332.08.

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.