Public Storage (NYSE:PSA) Stock Holdings Increased by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its stake in shares of Public Storage (NYSE:PSA) by 6.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,393 shares of the real estate investment trust’s stock after purchasing an additional 79 shares during the period. Bleakley Financial Group LLC’s holdings in Public Storage were worth $507,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. grew its holdings in shares of Public Storage by 86.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 645,168 shares of the real estate investment trust’s stock valued at $187,137,000 after acquiring an additional 299,826 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Public Storage by 34.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust’s stock valued at $319,270,000 after purchasing an additional 281,800 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Public Storage by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock worth $1,575,794,000 after purchasing an additional 219,391 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Public Storage by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock worth $6,075,681,000 after purchasing an additional 217,487 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Public Storage by 116.7% during the 2nd quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock worth $111,077,000 after purchasing an additional 208,546 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PSA shares. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Scotiabank boosted their price target on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Evercore ISI lowered their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Truist Financial lowered Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a report on Thursday, August 1st. Finally, Barclays upped their target price on Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $340.93.

Public Storage Stock Down 4.0 %

NYSE PSA opened at $331.85 on Tuesday. Public Storage has a twelve month low of $233.18 and a twelve month high of $369.99. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $58.08 billion, a PE ratio of 31.10, a PEG ratio of 4.87 and a beta of 0.68. The firm has a 50-day simple moving average of $346.07 and a 200 day simple moving average of $305.74.

Public Storage (NYSE:PSA) last announced its quarterly earnings data 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). The firm had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. Public Storage’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.28 EPS. On average, research analysts forecast that Public Storage will post 16.73 EPS for the current 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. The ex-dividend date was Friday, September 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.62%. Public Storage’s dividend payout ratio (DPR) is currently 112.46%.

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.