Handelsbanken Fonder AB Has $23.74 Million Stake in Public Storage (NYSE:PSA)

Handelsbanken Fonder AB lowered its position in Public Storage (NYSE:PSA - Free Report) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,316 shares of the real estate investment trust's stock after selling 3,778 shares during the quarter. Handelsbanken Fonder AB's holdings in Public Storage were worth $23,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Quent Capital LLC increased its stake in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 50 shares during the period. Ameriflex Group Inc. bought a new stake in Public Storage during the fourth quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Public Storage in the fourth quarter worth approximately $32,000. Millstone Evans Group LLC bought a new position in Public Storage during the 4th quarter valued at $38,000. Finally, Parvin Asset Management LLC acquired a new position in shares of Public Storage during the 4th quarter valued at $38,000. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

Public Storage stock traded down $0.52 on Thursday, reaching $296.64. 377,315 shares of the stock were exchanged, compared to its average volume of 744,420. The stock has a market cap of $52.04 billion, a PE ratio of 30.80, a PEG ratio of 4.91 and a beta of 0.89. The firm has a fifty day moving average price of $296.11 and a two-hundred day moving average price of $301.90. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage (NYSE:PSA - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, beating the consensus estimate of $4.06 by $0.06. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The firm's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.03 EPS. Sell-side analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be given a $3.00 dividend. The ex-dividend date is Thursday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.05%. Public Storage's dividend payout ratio is 119.17%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PSA. Royal Bank of Canada dropped their price target on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Evercore ISI lifted their price target on shares of Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. Wells Fargo & Company cut their price objective on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Bank of America raised their price objective on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Truist Financial raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a research report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage has an average rating of "Moderate Buy" and an average target price of $339.25.

Public Storage Company 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.