Asset Management One Co. Ltd. Acquires 3,627 Shares of Public Storage (NYSE:PSA)

Asset Management One Co. Ltd. lifted its position in shares of Public Storage (NYSE:PSA - Free Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 310,601 shares of the real estate investment trust's stock after acquiring an additional 3,627 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.18% of Public Storage worth $92,960,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its stake in shares of Public Storage by 12.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,131 shares of the real estate investment trust's stock valued at $2,434,000 after purchasing an additional 879 shares during the period. Continuum Advisory LLC grew its position in Public Storage by 15.2% during the first quarter. Continuum Advisory LLC now owns 636 shares of the real estate investment trust's stock worth $190,000 after buying an additional 84 shares in the last quarter. XML Financial LLC increased its stake in Public Storage by 4.1% in the 1st quarter. XML Financial LLC now owns 9,054 shares of the real estate investment trust's stock worth $2,710,000 after acquiring an additional 357 shares during the last quarter. Stiles Financial Services Inc raised its holdings in shares of Public Storage by 3.5% in the 1st quarter. Stiles Financial Services Inc now owns 10,095 shares of the real estate investment trust's stock valued at $3,023,000 after acquiring an additional 346 shares in the last quarter. Finally, Atticus Wealth Management LLC grew its holdings in shares of Public Storage by 39.7% during the first quarter. Atticus Wealth Management LLC now owns 1,140 shares of the real estate investment trust's stock worth $341,000 after purchasing an additional 324 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Up 0.4%

Shares of PSA traded up $1.08 during trading hours on Tuesday, reaching $295.84. 704,517 shares of the company traded hands, compared to its average volume of 745,210. The company has a quick ratio of 0.55, a current 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's fifty day moving average price is $298.66 and its two-hundred day moving average price is $298.55. The company has a market capitalization of $51.90 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 4.20 and a beta of 0.89.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, topping analysts' consensus estimates of $4.06 by $0.06. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the prior year, the company earned $4.03 earnings per share. The business's revenue was up .1% compared to the same quarter last year. Equities research analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, June 12th. Public Storage's dividend payout ratio (DPR) is 119.17%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PSA shares. Mizuho raised their price objective on shares of Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Bank of America upped their price objective on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Barclays cut their target price on Public Storage from $354.00 to $351.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target on the stock in a research note on Thursday, April 10th. Finally, Scotiabank lifted their target price on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $337.64.

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.