National Bank of Canada FI Has $33.17 Million Stock Holdings in Public Storage (NYSE:PSA)

National Bank of Canada FI grew its stake in shares of Public Storage (NYSE:PSA) by 32.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 110,760 shares of the real estate investment trust’s stock after buying an additional 27,215 shares during the quarter. National Bank of Canada FI’s holdings in Public Storage were worth $33,167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC raised its stake in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares during the period. Synergy Asset Management LLC acquired a new stake in Public Storage in the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC bought a new stake in shares of Public Storage during the fourth quarter valued at approximately $38,000. Toth Financial Advisory Corp raised its position in shares of Public Storage by 48.2% during the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 66 shares during the period. Finally, McIlrath & Eck LLC lifted its holdings in shares of Public Storage by 24.6% in the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 0.5 %

PSA stock opened at $297.44 on Thursday. The stock has a market cap of $52.18 billion, a P/E ratio of 30.89, a P/E/G ratio of 4.91 and a beta of 0.73. 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 stock’s fifty day simple moving average is $300.14 and its two-hundred day simple moving average is $318.76. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is currently 112.89%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PSA. Scotiabank decreased their price target on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Barclays reiterated an “overweight” rating and set a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Truist Financial lowered their price objective on 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, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $338.73.

Public Storage 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.