Rockefeller Capital Management L.P. Has $5.81 Million Holdings in Public Storage (NYSE:PSA)

Rockefeller Capital Management L.P. grew its position in Public Storage (NYSE:PSA) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,390 shares of the real estate investment trust’s stock after buying an additional 795 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Public Storage were worth $5,806,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PSA. Norges Bank purchased a new position in Public Storage during the 4th quarter worth approximately $931,286,000. Amundi grew its holdings in shares of Public Storage by 54.0% during the fourth 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 in the last quarter. Aew Capital Management L P raised its position in Public Storage by 108.6% during the fourth quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock valued at $131,574,000 after buying an additional 228,740 shares during the period. Proficio Capital Partners LLC acquired a new stake in Public Storage during the 4th quarter worth about $66,253,000. Finally, Russell Investments Group Ltd. grew its stake in Public Storage by 25.5% during the 4th quarter. Russell Investments Group Ltd. now owns 999,426 shares of the real estate investment trust’s stock valued at $299,006,000 after acquiring an additional 202,944 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on PSA shares. Scotiabank upgraded shares of Public Storage from a “sector perform” rating to a “sector outperform” rating and decreased their price target for the stock from $333.00 to $305.00 in a report on Wednesday, April 9th. 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 note on Friday, January 10th. Royal Bank of Canada lowered their target price 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. Wells Fargo & Company dropped their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, Barclays reiterated an “overweight” rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and an average target price of $332.08.

Public Storage Price Performance

NYSE PSA opened at $295.75 on Friday. The company has a market cap of $51.88 billion, a P/E ratio of 30.71, a P/E/G ratio of 4.91 and a beta of 0.76. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a fifty day simple moving average of $296.12 and a 200 day simple moving average of $312.33.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a $3.00 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.06%. Public Storage’s payout ratio is presently 112.89%.

About Public Storage

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.