Bank Julius Baer & Co. Ltd Zurich Purchases 9,847 Shares of Public Storage (NYSE:PSA)

Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Public Storage (NYSE:PSA - Free Report) by 3.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 272,145 shares of the real estate investment trust's stock after buying an additional 9,847 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.16% of Public Storage worth $87,110,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Ameriflex Group Inc. acquired a new stake in shares of Public Storage in the fourth quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Public Storage during the fourth quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new position in shares of Public Storage during the first quarter worth approximately $36,000. Millstone Evans Group LLC bought a new position in shares of Public Storage during the fourth quarter worth approximately $38,000. Finally, Parvin Asset Management LLC bought a new position in shares of Public Storage during the fourth quarter worth approximately $38,000. 78.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PSA has been the topic of a number of recent research reports. BNP Paribas upgraded Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Scotiabank lifted their price objective on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Mizuho boosted their price target on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Barclays reduced their price objective 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. Finally, Bank of America increased their price objective on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of "Moderate Buy" and an average target price of $337.64.

Public Storage Trading Up 1.3%

Shares of NYSE PSA traded up $3.57 during midday trading on Tuesday, reaching $288.15. 116,104 shares of the stock were exchanged, compared to its average volume of 766,015. The company has a market capitalization of $50.55 billion, a P/E ratio of 28.62, a P/E/G ratio of 4.14 and a beta of 0.86. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77. The stock has a 50 day moving average price of $296.64 and a 200-day moving average price of $296.37.

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

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Thursday, June 12th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Thursday, June 12th. Public Storage's dividend payout ratio (DPR) is 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.

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