Public Storage (NYSE:PSA) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its stake in Public Storage (NYSE:PSA - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,782 shares of the real estate investment trust's stock after selling 1,227 shares during the quarter. OLD National Bancorp IN's holdings in Public Storage were worth $6,818,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Werba Rubin Papier Wealth Management grew its position in shares of Public Storage by 1.7% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock valued at $681,000 after acquiring an additional 38 shares during the period. Lido Advisors LLC grew its holdings in Public Storage by 0.9% in the fourth quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock valued at $1,287,000 after purchasing an additional 39 shares during the period. Integrated Advisors Network LLC grew its holdings in Public Storage by 1.4% in the fourth quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust's stock valued at $918,000 after purchasing an additional 41 shares during the period. Kingsview Wealth Management LLC increased its position in shares of Public Storage by 4.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,090 shares of the real estate investment trust's stock valued at $326,000 after buying an additional 44 shares in the last quarter. Finally, Atlas Brown Inc. raised its stake in shares of Public Storage by 2.1% during the 1st quarter. Atlas Brown Inc. now owns 2,176 shares of the real estate investment trust's stock worth $651,000 after buying an additional 45 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PSA shares. Evercore ISI lifted their price target on shares of Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research note on Friday, May 2nd. Scotiabank increased their price objective on shares of 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 lifted their target price on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, Mizuho lifted their price objective on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Five investment 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 company's stock. According to MarketBeat, Public Storage currently has a consensus rating of "Moderate Buy" and a consensus price target of $339.25.

Public Storage Price Performance

Shares of PSA stock traded down $0.26 during trading hours on Monday, reaching $302.65. The company had a trading volume of 569,320 shares, compared to its average volume of 748,033. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99. The company has a market capitalization of $53.09 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 4.91 and a beta of 0.89. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a fifty day moving average of $295.50 and a 200-day moving average of $302.14.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the business earned $4.03 EPS. The firm's quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be issued 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 dividend yield of 3.97%. Public Storage's dividend payout ratio is currently 119.17%.

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.