Public Storage (NYSE:PSA) is B&I Capital AG's 5th Largest Position

B&I Capital AG reduced its position in shares of Public Storage (NYSE:PSA - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,655 shares of the real estate investment trust's stock after selling 6,390 shares during the period. Public Storage comprises approximately 4.0% of B&I Capital AG's portfolio, making the stock its 5th largest position. B&I Capital AG's holdings in Public Storage were worth $12,168,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PSA. Cohen & Steers Inc. increased its stake in Public Storage by 12.3% in the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock valued at $1,626,731,000 after purchasing an additional 592,944 shares during the period. Geode Capital Management LLC increased its stake in Public Storage by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,010,044 shares of the real estate investment trust's stock valued at $1,197,769,000 after purchasing an additional 78,472 shares during the period. Norges Bank acquired a new position in Public Storage in the fourth quarter valued at $931,286,000. Northern Trust Corp increased its stake in shares of Public Storage by 43.4% during the fourth quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust's stock worth $741,592,000 after acquiring an additional 749,913 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Public Storage by 10.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,702,522 shares of the real estate investment trust's stock worth $509,803,000 after acquiring an additional 158,665 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PSA shares. Evercore ISI upped their target price on shares of Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target on the stock in a report on Thursday, April 10th. Royal Bank Of Canada reduced their price target 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. BMO Capital Markets downgraded shares of Public Storage from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $340.00 to $325.00 in a report on Friday, June 20th. Finally, Bank of America upped their price target on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $337.64.

Public Storage Trading Up 1.1%

Shares of Public Storage stock traded up $3.03 during trading on Tuesday, hitting $287.61. The stock had a trading volume of 147,163 shares, compared to its average volume of 766,203. The stock has a 50 day simple moving average of $296.64 and a 200 day simple moving average of $296.37. The company has a market capitalization of $50.46 billion, a PE ratio of 28.57, a P/E/G ratio of 4.14 and a beta of 0.86. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.77. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99.

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 EPS for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm posted $4.03 earnings per share. The firm's revenue was up .1% on a year-over-year basis. On average, research analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

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 $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, June 12th. Public Storage's payout ratio is 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.

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