Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Stock Holdings in Public Storage $PSA

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Public Storage by 3.1%, owning 37,572 shares worth approximately $11.25 million at the end of the first quarter.
• Various institutional investors have made significant adjustments to their holdings in Public Storage, with a notable 400% increase by Caitong International Asset Management Co. Ltd during the same period.
• Stock analysts have mixed views on Public Storage, with price targets ranging from $309.00 to $380.00, and a general consensus rating of "Moderate Buy" with an average target price of $331.93.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Public Storage (NYSE:PSA - Free Report) by 3.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,572 shares of the real estate investment trust's stock after selling 1,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Public Storage were worth $11,245,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PSA. Vanguard Group Inc. boosted its holdings in shares of Public Storage by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock valued at $6,206,046,000 after acquiring an additional 143,575 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Public Storage by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust's stock worth $848,425,000 after buying an additional 34,718 shares during the period. Northern Trust Corp boosted its stake in shares of 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Public Storage by 10.3% during 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 valued at $509,803,000 after purchasing an additional 158,665 shares during the period. Finally, Deutsche Bank AG lifted its stake in Public Storage by 9.8% in the first quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust's stock worth $462,774,000 after acquiring an additional 138,486 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSA has been the subject of a number of recent research reports. Evercore ISI boosted their target price on shares of Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a report on Monday, August 4th. Bank of America increased 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. Mizuho raised their price objective on Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Royal Bank Of Canada reduced their price target on Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Finally, Wells Fargo & Company lowered their price objective on Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of "Moderate Buy" and a consensus price target of $335.43.

Public Storage Trading Up 0.8%

Public Storage stock traded up $2.24 during mid-day trading on Friday, hitting $283.13. 577,248 shares of the company's stock were exchanged, compared to its average volume of 857,152. The firm has a market capitalization of $49.68 billion, a P/E ratio of 30.88, a PEG ratio of 4.70 and a beta of 0.86. The company's 50 day simple moving average is $289.02 and its 200-day simple moving average is $294.86. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the firm posted $4.23 earnings per share. Public Storage's revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

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.