Public Storage (NYSE:PSA) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lowered its stake in shares of Public Storage (NYSE:PSA - Free Report) by 97.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,057 shares of the real estate investment trust's stock after selling 274,211 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Public Storage were worth $2,112,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Public Storage in the 4th quarter worth approximately $931,286,000. Northern Trust Corp lifted its position in shares of Public Storage by 43.4% during the 4th quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust's stock valued at $741,592,000 after buying an additional 749,913 shares in the last quarter. Cohen & Steers Inc. lifted its position in shares of Public Storage by 12.3% during the 4th quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock valued at $1,626,731,000 after buying an additional 592,944 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Public Storage by 34,827.1% during the 1st quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust's stock valued at $157,114,000 after buying an additional 523,452 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Public Storage by 44.6% during the 4th quarter. Deutsche Bank AG now owns 1,407,754 shares of the real estate investment trust's stock valued at $421,538,000 after buying an additional 433,918 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of NYSE:PSA traded down $0.03 during trading on Friday, reaching $288.81. The company had a trading volume of 1,425,643 shares, compared to its average volume of 761,609. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.55 and a quick ratio of 0.55. 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 capitalization of $50.67 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 4.18 and a beta of 0.86. The stock's fifty day moving average price is $298.17 and its 200 day moving average price is $296.85.

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

Public Storage Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PSA. 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. Bank of America raised their target price on Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Royal Bank Of Canada lowered their target price on Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. BMO Capital Markets cut Public Storage from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $340.00 to $325.00 in a research note on Friday, June 20th. Finally, Mizuho lifted their price objective on Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.