Candriam S.C.A. Buys 2,737 Shares of Public Storage (NYSE:PSA)

Candriam S.C.A. raised its stake in Public Storage (NYSE:PSA) by 18.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,238 shares of the real estate investment trust’s stock after purchasing an additional 2,737 shares during the period. Candriam S.C.A.’s holdings in Public Storage were worth $5,162,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC increased its stake in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Public Storage in the third quarter valued at $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage in the third quarter valued at $38,000. Synergy Asset Management LLC bought a new stake in Public Storage in the fourth quarter valued at $38,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Public Storage in the third quarter valued at $55,000. 78.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Barclays decreased their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company decreased 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. Scotiabank decreased their target price on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday. Royal Bank of Canada decreased their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Finally, Truist Financial boosted their target price on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $340.23.

Public Storage Stock Up 1.8 %

Public Storage stock opened at $313.99 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $55.08 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The firm’s 50-day simple moving average is $299.31 and its 200 day simple moving average is $324.76.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the transaction, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.00% of the company’s stock.

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.