10,841 Shares in Public Storage (NYSE:PSA) Acquired by Generali Investments Management Co LLC

Generali Investments Management Co LLC bought a new position in Public Storage (NYSE:PSA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,841 shares of the real estate investment trust’s stock, valued at approximately $3,246,000.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in Public Storage by 0.5% in the 3rd quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock worth $3,773,571,000 after buying an additional 55,123 shares during the last quarter. FMR LLC lifted its position in Public Storage by 20.9% in the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after buying an additional 869,066 shares during the last quarter. Geode Capital Management LLC lifted its position in Public Storage by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock worth $1,425,941,000 after buying an additional 52,807 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Public Storage by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock worth $1,023,080,000 after buying an additional 54,992 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 worth $561,763,000 after purchasing an additional 1,358,493 shares during the period. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PSA shares. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial decreased their price target on Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a research note on Tuesday. Royal Bank of Canada decreased their price target 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 decreased their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Scotiabank decreased their price target on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Seven 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $337.38.

Public Storage Price Performance

Shares of PSA stock opened at $298.27 on Wednesday. The stock has a market cap of $52.32 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 4.91 and a beta of 0.73. The business’s fifty day moving average is $299.89 and its 200 day moving average is $322.86. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 4.02%. Public Storage’s payout ratio is 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.