Public Storage (NYSE:PSA) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in shares of Public Storage (NYSE:PSA) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,741 shares of the real estate investment trust’s stock after acquiring an additional 2,832 shares during the quarter. Handelsbanken Fonder AB’s holdings in Public Storage were worth $26,468,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Core Wealth Advisors Inc. acquired a new position in Public Storage in the 4th quarter valued at $30,000. OFI Invest Asset Management acquired a new stake in shares of Public Storage in the second quarter valued at about $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Public Storage in the second quarter worth about $36,000. Riverview Trust Co acquired a new position in Public Storage during the first quarter worth about $37,000. Finally, Crewe Advisors LLC purchased a new stake in Public Storage during the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the topic of a number of research reports. Truist Financial lowered shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a research note on Thursday, August 1st. Wolfe Research raised Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Citigroup raised their target price on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Barclays boosted their price target on shares of Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $337.36.

Public Storage Trading Down 2.2 %

Shares of PSA stock traded down $7.60 during trading hours on Friday, hitting $345.40. The company had a trading volume of 823,083 shares, compared to its average volume of 775,834. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $60.45 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 5.01 and a beta of 0.68. The company’s fifty day moving average is $338.05 and its 200 day moving average is $300.85. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $369.99.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The firm had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company earned $4.28 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Research analysts expect that Public Storage will post 16.74 earnings per share for the current fiscal year.

Public Storage Announces Dividend

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

Public Storage Company 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.