Asset Management One Co. Ltd. Boosts Stake in Public Storage (NYSE:PSA)

Asset Management One Co. Ltd. raised its holdings in Public Storage (NYSE:PSA - Free Report) by 1.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSA. Shum Financial Group Inc. increased its position in shares of Public Storage by 1.7% in the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust's stock valued at $625,000 after acquiring an additional 35 shares during the period. Lido Advisors LLC grew its stake in Public Storage by 0.9% during the 4th 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 during the last quarter. Integrated Advisors Network LLC grew its stake in Public Storage by 1.4% during the 4th quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust's stock valued at $918,000 after purchasing an additional 41 shares during the last quarter. Atlas Brown Inc. increased its holdings in shares of Public Storage by 2.1% in the first quarter. Atlas Brown Inc. now owns 2,176 shares of the real estate investment trust's stock valued at $651,000 after purchasing an additional 45 shares during the period. Finally, CVA Family Office LLC raised its stake in shares of Public Storage by 24.6% in the first quarter. CVA Family Office LLC now owns 238 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Price Performance

Shares of PSA stock traded up $1.43 during trading hours on Friday, hitting $290.00. 1,194,232 shares of the company's stock were exchanged, compared to its average volume of 750,641. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The firm has a market cap of $50.87 billion, a P/E ratio of 28.80, a P/E/G ratio of 4.19 and a beta of 0.89. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.77. The firm has a 50 day moving average of $298.67 and a two-hundred day moving average of $298.14.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping the consensus estimate of $4.06 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The firm's revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.03 EPS. Sell-side analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be paid a dividend of $3.00 per share. The ex-dividend date is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.14%. Public Storage's dividend payout ratio is currently 119.17%.

Analysts Set New Price Targets

A number of brokerages recently commented on PSA. Bank of America upped their target price on Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Royal Bank Of Canada dropped their target price on Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Barclays decreased their price target on Public Storage from $354.00 to $351.00 and set an "overweight" rating for the company in a report on Friday, May 16th. BMO Capital Markets cut shares of Public Storage from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $340.00 to $325.00 in a research note on Friday, June 20th. Finally, Scotiabank lifted their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Public Storage has a consensus rating of "Moderate Buy" and an average target price of $337.64.

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.