Lansforsakringar Fondforvaltning AB publ Purchases New Shares in Public Storage (NYSE:PSA)

Lansforsakringar Fondforvaltning AB publ acquired a new stake in Public Storage (NYSE:PSA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 123,637 shares of the real estate investment trust's stock, valued at approximately $37,022,000. Lansforsakringar Fondforvaltning AB publ owned approximately 0.07% of Public Storage as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Quent Capital LLC grew its position in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Public Storage in the fourth quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Public Storage during the 4th quarter valued at approximately $32,000. Synergy Asset Management LLC purchased a new position in shares of Public Storage during the 4th quarter valued at approximately $38,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Public Storage during the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

PSA has been the subject of several research analyst reports. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a research note on Thursday, April 10th. Mizuho increased their target price on Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research note on Wednesday. Royal Bank of Canada reduced their target price on Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Barclays reduced their target price on Public Storage from $354.00 to $351.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Scotiabank increased their target price on Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Public Storage currently has an average rating of "Moderate Buy" and an average target price of $339.25.

Public Storage Stock Performance

NYSE PSA traded up $1.82 during trading hours on Friday, hitting $307.84. The company had a trading volume of 1,601,160 shares, compared to its average volume of 746,015. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The business has a fifty day simple moving average of $294.61 and a 200-day simple moving average of $303.23. The firm has a market cap of $54.00 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 4.91 and a beta of 0.91.

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

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a dividend of $3.00 per share. The ex-dividend date is Thursday, June 12th. This represents a $12.00 annualized dividend and a yield of 3.90%. Public Storage's dividend payout ratio is currently 119.17%.

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.