Banco Bilbao Vizcaya Argentaria S.A. Cuts Position in Public Storage (NYSE:PSA)

Banco Bilbao Vizcaya Argentaria S.A. cut its stake in shares of Public Storage (NYSE:PSA - Free Report) by 32.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,862 shares of the real estate investment trust's stock after selling 1,895 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Public Storage were worth $1,156,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PSA. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Public Storage by 6.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 13,608 shares of the real estate investment trust's stock valued at $4,075,000 after acquiring an additional 881 shares during the last quarter. MGO One Seven LLC grew its holdings in Public Storage by 67.1% in the fourth quarter. MGO One Seven LLC now owns 2,459 shares of the real estate investment trust's stock worth $736,000 after purchasing an additional 987 shares during the period. Pinebridge Investments L.P. bought a new stake in Public Storage in the fourth quarter worth $333,000. Van Lanschot Kempen Investment Management N.V. grew its position in Public Storage by 69.1% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 40,701 shares of the real estate investment trust's stock valued at $12,188,000 after purchasing an additional 16,627 shares during the last quarter. Finally, Trajan Wealth LLC lifted its position in Public Storage by 2.7% in the 4th quarter. Trajan Wealth LLC now owns 16,072 shares of the real estate investment trust's stock valued at $4,813,000 after acquiring an additional 427 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of PSA traded up $7.55 during midday trading on Wednesday, reaching $300.54. 1,044,196 shares of the stock were exchanged, compared to its average volume of 738,537. The business's 50-day moving average price is $295.02 and its 200 day moving average price is $308.97. The company has a market capitalization of $52.72 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 4.91 and a beta of 0.76. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.06 by $0.06. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. During the same quarter in the previous year, the business posted $4.03 EPS. Public Storage's revenue was up .1% on a year-over-year basis. On average, sell-side analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a $3.00 dividend. The ex-dividend date was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.99%. Public Storage's dividend payout ratio (DPR) is 112.89%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Mizuho initiated coverage on Public Storage in a research note on Wednesday, April 9th. They set a "neutral" rating and a $287.00 price target for the company. Wells Fargo & Company decreased their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a research report on Thursday, April 10th. Finally, Barclays reissued an "overweight" rating and set a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $336.25.

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.