IFM Investors Pty Ltd lifted its stake in Public Storage (NYSE:PSA - Free Report) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,381 shares of the real estate investment trust's stock after purchasing an additional 2,864 shares during the period. IFM Investors Pty Ltd's holdings in Public Storage were worth $21,364,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in Public Storage during the 4th quarter worth about $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Public Storage during the fourth quarter worth about $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Public Storage during the first quarter worth about $36,000. Millstone Evans Group LLC acquired a new stake in shares of Public Storage during the fourth quarter worth about $38,000. Finally, Parvin Asset Management LLC acquired a new stake in shares of Public Storage during the fourth quarter worth about $38,000. 78.79% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently commented on the company. BNP Paribas Exane assumed coverage on Public Storage in a research report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price on the stock. BMO Capital Markets cut Public Storage from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. Scotiabank lifted their target price on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Truist Financial upgraded 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. Finally, Mizuho lifted their target price on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $337.64.
View Our Latest Stock Report on Public Storage
Public Storage Stock Performance
PSA traded down $0.84 during trading on Friday, reaching $296.27. The company's stock had a trading volume of 742,606 shares, compared to its average volume of 752,007. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. The company's fifty day moving average price is $298.90 and its 200-day moving average price is $297.11. The company has a market capitalization of $51.97 billion, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 4.29 and a beta of 0.86. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.55 and a current ratio of 0.55.
Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company earned $4.03 EPS. The firm's revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.
Public Storage Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Thursday, June 12th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Thursday, June 12th. Public Storage's dividend payout ratio (DPR) is 119.17%.
About Public Storage
(
Free Report)
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.
Recommended Stories
Before you consider Public Storage, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Public Storage wasn't on the list.
While Public Storage currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
