Axa S.A. Purchases 4,280 Shares of Public Storage (NYSE:PSA)

Axa S.A. increased its holdings in Public Storage (NYSE:PSA - Free Report) by 17.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,288 shares of the real estate investment trust's stock after purchasing an additional 4,280 shares during the period. Axa S.A.'s holdings in Public Storage were worth $8,471,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quent Capital LLC raised its position in shares of Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 50 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Public Storage during the fourth quarter valued at approximately $32,000. Synergy Asset Management LLC purchased a new stake in Public Storage during the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC bought a new stake in shares of Public Storage in the 4th quarter valued at approximately $38,000. Finally, Parvin Asset Management LLC purchased a new position in shares of Public Storage in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Trading Up 0.0 %

PSA opened at $300.26 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock's fifty day moving average is $294.65 and its two-hundred day moving average is $307.45. The company has a market capitalization of $52.67 billion, a P/E ratio of 31.18, a PEG ratio of 4.91 and a beta of 0.76. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating the consensus estimate of $4.06 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The business's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $4.03 earnings per share. Analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is 119.17%.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of analyst reports. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target for the company in a research report on Thursday, April 10th. Mizuho started coverage on shares of Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 target price for the company. Bank of America upgraded shares of Public Storage from a "neutral" rating to a "buy" rating and upped their price target for the company from $349.00 to $368.00 in a report on Tuesday, April 22nd. Royal Bank of Canada decreased their price objective on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a research note on Friday. Finally, Evercore ISI upped their target price on Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research note on Friday. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $333.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.