Public Storage (NYSE:PSA) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its stake in shares of Public Storage (NYSE:PSA) by 80.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,867 shares of the real estate investment trust’s stock after purchasing an additional 97,302 shares during the quarter. BNP Paribas Financial Markets owned 0.12% of Public Storage worth $79,639,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSA. FMR LLC boosted its position in shares of Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after acquiring an additional 869,066 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Public Storage by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock worth $1,023,080,000 after acquiring an additional 54,992 shares in the last quarter. APG Asset Management US Inc. boosted its position in shares of Public Storage by 4.8% during the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock worth $623,485,000 after acquiring an additional 100,000 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Public Storage by 8.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock worth $343,968,000 after acquiring an additional 95,080 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Public Storage by 57.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust’s stock worth $405,278,000 after acquiring an additional 405,847 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Up 0.4 %

PSA opened at $351.36 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The business has a 50 day moving average price of $343.18 and a two-hundred day moving average price of $318.29. Public Storage has a 52 week low of $253.98 and a 52 week high of $369.99. The company has a market cap of $61.53 billion, a PE ratio of 36.49, a P/E/G ratio of 5.78 and a beta of 0.70.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s payout ratio is 124.61%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PSA shares. Royal Bank of Canada reduced their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Jefferies Financial Group boosted their target price on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company reduced their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Barclays reduced their target price on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, Evercore ISI reduced their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $339.64.

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.