Ensign Peak Advisors Inc Has $20.73 Million Stock Position in Public Storage (NYSE:PSA)

Ensign Peak Advisors Inc trimmed its holdings in Public Storage (NYSE:PSA - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,225 shares of the real estate investment trust's stock after selling 5,393 shares during the period. Ensign Peak Advisors Inc's holdings in Public Storage were worth $20,729,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PSA. Brooklyn Investment Group boosted its stake in shares of Public Storage by 3.4% during the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock valued at $345,000 after buying an additional 38 shares during the period. Werba Rubin Papier Wealth Management boosted its position in Public Storage by 1.7% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock valued at $681,000 after purchasing an additional 38 shares during the last quarter. Lido Advisors LLC grew its stake in Public Storage by 0.9% in the fourth quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock valued at $1,287,000 after purchasing an additional 39 shares in the last quarter. Premier Path Wealth Partners LLC grew its stake in Public Storage by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock valued at $366,000 after purchasing an additional 40 shares in the last quarter. Finally, Global X Japan Co. Ltd. increased its position in Public Storage by 13.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock worth $100,000 after purchasing an additional 40 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Performance

PSA stock traded up $6.80 during mid-day trading on Thursday, reaching $304.99. 532,650 shares of the stock traded hands, compared to its average volume of 745,404. The firm has a market capitalization of $53.50 billion, a PE ratio of 31.67, a P/E/G ratio of 4.91 and a beta of 0.91. The business has a 50-day moving average of $293.61 and a two-hundred day moving average of $306.15. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage (NYSE:PSA - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, beating the consensus estimate of $4.06 by $0.06. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The firm's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.03 EPS. As a group, equities analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage's payout ratio is currently 119.17%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PSA. Mizuho assumed coverage on Public Storage in a report on Wednesday, April 9th. They set a "neutral" rating and a $287.00 price target for the company. Truist Financial raised shares of 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. Evercore ISI raised their price target on shares of Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a report on Friday, May 2nd. Royal Bank of Canada reduced 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, May 2nd. Finally, Bank of America increased their target price on shares of Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Public Storage presently has an average rating of "Moderate Buy" and a consensus price target of $337.67.

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.