MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 4,671 Shares of Public Storage (NYSE:PSA)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in Public Storage (NYSE:PSA - Free Report) by 21.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,570 shares of the real estate investment trust's stock after selling 4,671 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Public Storage were worth $5,261,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC lifted its position in shares of 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 acquiring an additional 50 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Public Storage during the 4th quarter valued at $32,000. Synergy Asset Management LLC acquired a new position in shares of Public Storage during the 4th quarter valued at $38,000. Millstone Evans Group LLC acquired a new position in shares of 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 and hedge funds own 78.79% of the company's stock.

Public Storage Stock Performance

NYSE PSA traded up $0.96 during trading hours on Friday, reaching $296.74. 558,745 shares of the company were exchanged, compared to its average volume of 745,202. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The business's 50 day simple moving average is $293.70 and its 200-day simple moving average is $304.56. 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 stock has a market capitalization of $52.06 billion, a P/E ratio of 30.81, a P/E/G ratio of 4.91 and a beta of 0.91.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings data 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. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company posted $4.03 earnings per share. The firm's quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.04%. Public Storage's dividend payout ratio is presently 119.17%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PSA. Barclays dropped their target price on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Bank of America upped their price objective on shares of Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Scotiabank upped their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Royal Bank of Canada lowered their price objective on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Finally, Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective on the stock in a report on Thursday, April 10th. Five equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $337.42.

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.