Czech National Bank Has $11.68 Million Holdings in Public Storage (NYSE:PSA)

Czech National Bank lifted its holdings in Public Storage (NYSE:PSA) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,087 shares of the real estate investment trust’s stock after acquiring an additional 1,950 shares during the quarter. Czech National Bank’s holdings in Public Storage were worth $11,675,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its holdings in Public Storage by 2.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 20,980 shares of the real estate investment trust’s stock worth $7,634,000 after buying an additional 414 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Public Storage during the 2nd quarter valued at $2,442,000. Creekside Partners bought a new stake in shares of Public Storage during the 2nd quarter valued at $320,000. Heartland Bank & Trust Co raised its position in shares of Public Storage by 4.5% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,510 shares of the real estate investment trust’s stock valued at $434,000 after acquiring an additional 65 shares during the last quarter. Finally, SPC Financial Inc. raised its position in shares of Public Storage by 14.0% during the 2nd quarter. SPC Financial Inc. now owns 1,222 shares of the real estate investment trust’s stock valued at $352,000 after acquiring an additional 150 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Down 2.2 %

PSA stock traded down $7.60 during midday trading on Friday, hitting $345.40. The stock had a trading volume of 823,083 shares, compared to its average volume of 718,850. The firm has a market cap of $60.70 billion, a P/E ratio of 31.36, a price-to-earnings-growth ratio of 5.02 and a beta of 0.68. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. Public Storage has a 1-year low of $233.18 and a 1-year high of $369.99. The business has a fifty day moving average price of $338.05 and a two-hundred day moving average price of $300.69.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The company had revenue of $921.70 million during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm posted $4.28 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, sell-side analysts predict that Public Storage will post 16.75 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Friday, September 13th. Public Storage’s payout ratio is presently 108.99%.

Analysts Set New Price Targets

A number of research firms recently commented on PSA. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective for the company. in a research report on Monday, August 5th. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Citigroup upped their price objective on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company upped their price objective on shares of Public Storage from $310.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Scotiabank increased their target price on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $337.36.

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.