Public Storage (NYSE:PSA) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in Public Storage (NYSE:PSA) by 12.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,391 shares of the real estate investment trust’s stock after selling 3,892 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Public Storage were worth $9,603,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PSA. OFI Invest Asset Management acquired a new position in shares of Public Storage during the second quarter worth about $32,000. Prospera Private Wealth LLC acquired a new position in shares of Public Storage during the third quarter worth about $34,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage during the second quarter worth about $36,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Storage during the third quarter worth about $38,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Public Storage during the second quarter worth about $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSA has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Scotiabank boosted their price target on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Royal Bank of Canada dropped their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Evercore ISI lowered their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Company lowered their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Stock Down 0.9 %

Shares of NYSE PSA opened at $348.05 on Monday. Public Storage has a 12-month low of $255.78 and a 12-month high of $369.99. The company has a market capitalization of $60.95 billion, a PE ratio of 36.14, a price-to-earnings-growth ratio of 5.79 and a beta of 0.70. 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 firm’s 50-day moving average is $342.76 and its two-hundred day moving average is $319.51.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

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.