Czech National Bank Raises Position in Public Storage (NYSE:PSA)

Czech National Bank raised its position in shares of Public Storage (NYSE:PSA - Free Report) by 5.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,197 shares of the real estate investment trust's stock after acquiring an additional 2,027 shares during the period. Czech National Bank's holdings in Public Storage were worth $10,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Public Storage during the 4th quarter worth $931,286,000. Northern Trust Corp raised its position 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 acquiring an additional 749,913 shares in the last quarter. Cohen & Steers Inc. raised its position in Public Storage by 12.3% during the fourth 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 acquiring an additional 592,944 shares in the last quarter. GAMMA Investing LLC grew its holdings in Public Storage by 34,827.1% in the first quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust's stock valued at $157,114,000 after purchasing an additional 523,452 shares during the period. Finally, Deutsche Bank AG grew its holdings in Public Storage by 44.6% in the fourth quarter. Deutsche Bank AG now owns 1,407,754 shares of the real estate investment trust's stock valued at $421,538,000 after purchasing an additional 433,918 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PSA. Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective on the stock in a report on Thursday, April 10th. Scotiabank upped their price target on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research note on Monday, May 12th. Royal Bank of Canada dropped their price target on Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company decreased their price objective on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Finally, Bank of America lifted their price objective on Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $339.25.

Public Storage Stock Down 1.0%

Shares of NYSE PSA traded down $2.90 during mid-day trading on Thursday, reaching $300.39. 801,119 shares of the company's stock were exchanged, compared to its average volume of 748,796. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $52.70 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 4.91 and a beta of 0.91. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The business has a fifty day simple moving average of $295.41 and a 200 day simple moving average of $302.81.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The business's revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted $4.03 earnings per share. As a group, equities analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 3.99%. Public Storage's payout ratio 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.