Private Trust Co. NA Grows Stock Holdings in Public Storage (NYSE:PSA)

Private Trust Co. NA raised its position in shares of Public Storage (NYSE:PSA - Free Report) by 228.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,139 shares of the real estate investment trust's stock after buying an additional 1,487 shares during the quarter. Private Trust Co. NA's holdings in Public Storage were worth $640,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Public Storage by 30.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust's stock valued at $40,926,000 after buying an additional 31,662 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Public Storage by 12.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust's stock valued at $13,240,000 after buying an additional 4,746 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Public Storage by 9.7% during the first quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust's stock valued at $517,000 after buying an additional 152 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Public Storage by 1.2% during the first quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust's stock valued at $92,960,000 after buying an additional 3,627 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of Public Storage by 1,360.5% during the fourth quarter. Meeder Asset Management Inc. now owns 1,256 shares of the real estate investment trust's stock valued at $376,000 after buying an additional 1,170 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on PSA shares. Royal Bank Of Canada decreased their price target on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Bank of America increased their price objective 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. 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 research report on Monday, May 12th. Barclays decreased their price objective on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a research report on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $337.64.

Public Storage Price Performance

Shares of NYSE PSA opened at $296.27 on Friday. The stock has a market capitalization of $51.97 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 4.29 and a beta of 0.86. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The firm's 50 day simple moving average is $298.90 and its 200-day simple moving average is $297.13. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.55 and a quick ratio of 0.55.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping analysts' consensus estimates of $4.06 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.18 billion. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The business's revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $4.03 EPS. Analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.05%. Public Storage's payout ratio is 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.

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