Cwm LLC Has $25.46 Million Position in Public Storage (NYSE:PSA)

Cwm LLC lowered its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 85,082 shares of the real estate investment trust's stock after selling 1,612 shares during the period. Cwm LLC's holdings in Public Storage were worth $25,464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cohen & Steers Inc. boosted its holdings 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 worth $1,626,731,000 after buying an additional 592,944 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Public Storage by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,010,044 shares of the real estate investment trust's stock worth $1,197,769,000 after purchasing an additional 78,472 shares during the period. Norges Bank purchased a new position in Public Storage in the fourth quarter valued at approximately $931,286,000. Northern Trust Corp lifted its holdings in Public Storage by 43.4% during the fourth quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust's stock valued at $741,592,000 after purchasing an additional 749,913 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Public Storage by 10.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,702,522 shares of the real estate investment trust's stock worth $509,803,000 after acquiring an additional 158,665 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PSA shares. BMO Capital Markets lowered Public Storage from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $340.00 to $325.00 in a report on Friday, June 20th. Scotiabank upped their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Bank of America lifted 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. Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a research report on Thursday, April 10th. Finally, Evercore ISI boosted their price objective on Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $337.64.

Public Storage Stock Performance

Shares of NYSE:PSA opened at $288.81 on Monday. The firm's 50-day moving average is $298.17 and its 200 day moving average is $296.82. The company has a market capitalization of $50.67 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 4.18 and a beta of 0.86. 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.

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

Public Storage Announces Dividend

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

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.

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