National Pension Service Has $122.96 Million Stock Holdings in Public Storage (NYSE:PSA)

National Pension Service lifted its position in shares of Public Storage (NYSE:PSA) by 0.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 410,628 shares of the real estate investment trust’s stock after purchasing an additional 113 shares during the period. National Pension Service owned 0.23% of Public Storage worth $122,958,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PSA. Private Advisor Group LLC increased its stake in shares of Public Storage by 13.3% during the 3rd quarter. Private Advisor Group LLC now owns 5,849 shares of the real estate investment trust’s stock worth $2,128,000 after purchasing an additional 688 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Public Storage by 12.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,709 shares of the real estate investment trust’s stock worth $1,713,000 after buying an additional 535 shares during the period. Pallas Capital Advisors LLC boosted its holdings in shares of Public Storage by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 1,404 shares of the real estate investment trust’s stock worth $475,000 after buying an additional 516 shares during the period. Integrated Advisors Network LLC boosted its holdings in shares of Public Storage by 3.9% during the 3rd quarter. Integrated Advisors Network LLC now owns 3,026 shares of the real estate investment trust’s stock worth $1,101,000 after buying an additional 114 shares during the period. Finally, GW Henssler & Associates Ltd. bought a new stake in shares of Public Storage during the 3rd quarter worth about $223,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PSA. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Friday, January 10th. Truist Financial lifted their target price 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. 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 report on Friday, February 21st. Royal Bank of Canada reduced their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday. Finally, Barclays reduced their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus price target of $340.69.

Insider Activity

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

Public Storage Price Performance

Shares of NYSE:PSA opened at $304.45 on Thursday. The firm has a 50 day moving average of $297.85 and a 200-day moving average of $325.31. The stock has a market capitalization of $53.31 billion, a PE ratio of 31.61, a PEG ratio of 4.91 and a beta of 0.74. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Thursday, March 13th. Public Storage’s payout ratio is presently 112.89%.

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.