7,367 Shares in Public Storage (NYSE:PSA) Bought by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise has acquired 7,367 shares of Public Storage, valued at approximately $2.2 million, during the first quarter.
• Public Storage reported earnings of $4.12 per share for the last quarter, surpassing analysts' expectations of $4.06, with revenue slightly up to $1.18 billion.
• The company recently announced a quarterly dividend of $3.00 per share, translating to an annual yield of 4.10%, despite a high dividend payout ratio of 119.17%.

Banque Cantonale Vaudoise bought a new position in Public Storage (NYSE:PSA - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 7,367 shares of the real estate investment trust's stock, valued at approximately $2,205,000.

Other large investors have also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in Public Storage during the 4th quarter valued at $30,000. Spectrum Wealth Counsel LLC bought a new stake in shares of Public Storage during the first quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL bought a new position in Public Storage in the fourth quarter worth $32,000. Opal Wealth Advisors LLC bought a new stake in shares of Public Storage during the 1st quarter valued at $36,000. Finally, Parvin Asset Management LLC purchased a new position in Public Storage during the 4th quarter valued at about $38,000. 78.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSA. BMO Capital Markets downgraded shares of Public Storage from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $340.00 to $325.00 in a research report on Friday, June 20th. Evercore ISI increased their target price on Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. Bank of America raised their price target on Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Scotiabank boosted their price objective on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research note on Monday, May 12th. Finally, BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Public Storage currently has an average rating of "Moderate Buy" and a consensus target price of $336.93.

Public Storage Stock Performance

PSA traded down $3.66 on Wednesday, reaching $288.91. The stock had a trading volume of 884,542 shares, compared to its average volume of 847,389. The business's 50-day moving average price is $294.30 and its two-hundred day moving average price is $296.02. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99. The company has a market cap of $50.68 billion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 4.26 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.23 by $0.05. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. Public Storage's quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $4.23 EPS. Sell-side analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Thursday, June 12th were given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Thursday, June 12th. Public Storage's payout ratio is currently 119.17%.

Public Storage 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.