Public Employees Retirement Association of Colorado Buys 19,356 Shares of Public Storage (NYSE:PSA)

Public Employees Retirement Association of Colorado boosted its stake in shares of Public Storage (NYSE:PSAFree Report) by 473.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,440 shares of the real estate investment trust’s stock after buying an additional 19,356 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Public Storage were worth $7,149,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC raised its stake in shares of Public Storage by 16.1% during the third quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust’s stock valued at $2,567,000 after acquiring an additional 1,349 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Public Storage by 8.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 123,852 shares of the real estate investment trust’s stock worth $32,638,000 after buying an additional 9,223 shares during the period. Gold Investment Management Ltd. bought a new position in shares of Public Storage during the 4th quarter worth $849,000. Raymond James & Associates increased its stake in shares of Public Storage by 4.3% during the fourth quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock valued at $34,917,000 after buying an additional 4,695 shares during the period. Finally, Ellsworth Advisors LLC raised its holdings in shares of Public Storage by 615.7% in the fourth quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust’s stock valued at $6,040,000 after acquiring an additional 17,036 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Public Storage news, Director Kristy Pipes purchased 2,149 shares of the stock in a transaction on Tuesday, May 14th. The shares were bought at an average cost of $278.96 per share, with a total value of $599,485.04. Following the completion of the acquisition, the director now owns 2,149 shares in the company, valued at $599,485.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 11.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price on the stock in a research report on Thursday, March 28th. BMO Capital Markets upped their target price on Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Scotiabank lifted their price target on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a report on Monday, March 18th. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $280.00 to $310.00 in a research note on Friday, April 5th. Finally, Barclays reduced their target price on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating for the company in a report on Monday, May 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $304.75.

Check Out Our Latest Research Report on Public Storage

Public Storage Price Performance

Shares of NYSE:PSA opened at $273.84 on Friday. Public Storage has a twelve month low of $233.18 and a twelve month high of $312.25. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. The company has a market cap of $48.12 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 3.86 and a beta of 0.63. The company’s 50 day moving average is $273.05 and its 200 day moving average is $280.45.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.38%. Public Storage’s payout ratio is currently 108.99%.

Public Storage Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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