Generali Investments Management Co LLC Has $3.52 Million Stake in Public Storage (NYSE:PSA)

Generali Investments Management Co LLC grew its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,749 shares of the real estate investment trust's stock after acquiring an additional 908 shares during the quarter. Public Storage accounts for approximately 1.0% of Generali Investments Management Co LLC's investment portfolio, making the stock its 24th largest position. Generali Investments Management Co LLC's holdings in Public Storage were worth $3,516,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PSA. Edge Wealth Management LLC grew its holdings in shares of Public Storage by 1.7% during the first quarter. Edge Wealth Management LLC now owns 44,996 shares of the real estate investment trust's stock worth $13,467,000 after purchasing an additional 765 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Public Storage by 29.1% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 497 shares of the real estate investment trust's stock worth $149,000 after purchasing an additional 112 shares during the last quarter. Naples Global Advisors LLC grew its holdings in shares of Public Storage by 38.8% during the first quarter. Naples Global Advisors LLC now owns 2,488 shares of the real estate investment trust's stock worth $744,000 after purchasing an additional 695 shares during the last quarter. Clare Market Investments LLC grew its holdings in shares of Public Storage by 39.2% during the first quarter. Clare Market Investments LLC now owns 1,029 shares of the real estate investment trust's stock worth $308,000 after purchasing an additional 290 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Public Storage by 1.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,270 shares of the real estate investment trust's stock worth $1,577,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Trading Up 0.9%

Shares of Public Storage stock traded up $2.84 on Friday, reaching $303.30. 747,468 shares of the company's stock were exchanged, compared to its average volume of 749,316. The company has a market capitalization of $53.21 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 4.91 and a beta of 0.89. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99. The firm's 50-day moving average is $295.50 and its two-hundred day moving average is $302.59. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

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 (EPS) for the quarter, topping analysts' consensus estimates of $4.06 by $0.06. The firm had revenue of $1.18 billion for 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 company's revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.03 EPS. Sell-side analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage's payout ratio is 119.17%.

Analyst Ratings Changes

PSA has been the topic of several research reports. Evercore ISI boosted their price target on Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Scotiabank upped their target price on Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. Bank of America upped 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. Wells Fargo & Company reduced their target price on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Finally, Mizuho upped their target price on Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $339.25.

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.