HUB Investment Partners LLC Increases Position in Public Storage (NYSE:PSA)

HUB Investment Partners LLC increased its position in shares of Public Storage (NYSE:PSA) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,365 shares of the real estate investment trust’s stock after acquiring an additional 50 shares during the quarter. HUB Investment Partners LLC’s holdings in Public Storage were worth $409,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC increased its stake in Public Storage by 9.5% in the third quarter. Empowered Funds LLC now owns 2,530 shares of the real estate investment trust’s stock valued at $921,000 after purchasing an additional 220 shares during the last quarter. Caprock Group LLC grew its holdings in Public Storage by 52.0% in the 3rd quarter. Caprock Group LLC now owns 3,056 shares of the real estate investment trust’s stock valued at $1,112,000 after buying an additional 1,046 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Public Storage during the 3rd quarter valued at about $1,415,000. Prospera Private Wealth LLC acquired a new position in shares of Public Storage during the 3rd quarter valued at about $34,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Public Storage by 114.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock worth $33,302,000 after acquiring an additional 48,803 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Down 1.8 %

Shares of NYSE:PSA opened at $291.19 on Friday. The company has a 50 day moving average of $299.96 and a two-hundred day moving average of $322.12. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. 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 company has a market capitalization of $51.08 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is 112.89%.

Analysts Set New Price Targets

Several equities analysts recently commented on PSA shares. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Scotiabank cut their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. Truist Financial dropped their price target on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research note on Tuesday. Royal Bank of Canada reduced their price objective on 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. Finally, Wells Fargo & Company dropped 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. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $338.00.

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.