Natixis Advisors LLC Purchases 15,318 Shares of Public Storage (NYSE:PSA)

Natixis Advisors LLC boosted its position in Public Storage (NYSE:PSA) by 24.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,276 shares of the real estate investment trust’s stock after acquiring an additional 15,318 shares during the period. Natixis Advisors LLC’s holdings in Public Storage were worth $23,439,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PSA. Greykasell Wealth Strategies Inc. bought a new stake in Public Storage during the 4th quarter valued at $508,000. Midwest Professional Planners LTD. increased its position in shares of Public Storage by 7.7% during the fourth quarter. Midwest Professional Planners LTD. now owns 6,865 shares of the real estate investment trust’s stock worth $2,056,000 after acquiring an additional 489 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Public Storage in the 4th quarter worth about $1,634,000. Skandinaviska Enskilda Banken AB publ lifted its position in Public Storage by 56.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 121,137 shares of the real estate investment trust’s stock valued at $35,834,000 after acquiring an additional 43,529 shares in the last quarter. Finally, Erste Asset Management GmbH boosted its stake in Public Storage by 1.7% during the 4th quarter. Erste Asset Management GmbH now owns 23,300 shares of the real estate investment trust’s stock valued at $6,946,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $300.37 on Tuesday. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock’s fifty day moving average price is $299.89 and its two-hundred day moving average price is $323.18. The firm has a market cap of $52.69 billion, a PE ratio of 31.19, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

Wall Street Analyst Weigh In

PSA has been the subject of several analyst reports. Truist Financial raised their target price on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Wells Fargo & Company lowered 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 cut their price target on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Finally, Barclays reiterated an “overweight” rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.69.

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.