Teacher Retirement System of Texas Acquires 31,759 Shares of Public Storage (NYSE:PSA)

Teacher Retirement System of Texas raised its holdings in Public Storage (NYSE:PSA) by 45.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,404 shares of the real estate investment trust’s stock after purchasing an additional 31,759 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of Public Storage worth $30,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of PSA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Public Storage by 732.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock valued at $561,763,000 after purchasing an additional 1,358,493 shares during the period. Adelante Capital Management LLC lifted its position in shares of Public Storage by 389.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock valued at $532,465,000 after buying an additional 1,164,630 shares during the last quarter. FMR LLC lifted 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 valued at $1,828,763,000 after buying an additional 869,066 shares during the last quarter. Daiwa Securities Group Inc. lifted 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 valued at $405,278,000 after buying an additional 405,847 shares during the last quarter. Finally, Amundi lifted its position in shares of Public Storage by 54.0% during the 4th quarter. Amundi now owns 779,882 shares of the real estate investment trust’s stock valued at $230,426,000 after buying an additional 273,486 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE:PSA opened at $296.12 on Friday. The business’s 50-day moving average price is $299.91 and its two-hundred day moving average price is $322.48. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The stock has a market cap of $51.94 billion, a P/E ratio of 30.75, a PEG ratio of 4.91 and a beta of 0.73. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.05%. Public Storage’s payout ratio is currently 112.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PSA. Barclays reaffirmed an “overweight” rating and set a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and upped their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada dropped their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Scotiabank dropped their price objective on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Finally, Truist Financial dropped their price objective on Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $338.00.

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.