Public Storage (NYSE:PSA) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Public Storage (NYSE:PSA - Free Report) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,702,522 shares of the real estate investment trust's stock after buying an additional 158,665 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.97% of Public Storage worth $509,803,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cohen & Steers Inc. raised its position in Public Storage by 12.3% in the 4th 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 last quarter. Geode Capital Management LLC raised its position in Public Storage by 2.0% in the 4th 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 last quarter. Norges Bank purchased a new stake in Public Storage in the 4th quarter valued at $931,286,000. Northern Trust Corp raised its position in Public Storage by 43.4% in the 4th quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust's stock valued at $741,592,000 after purchasing an additional 749,913 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Public Storage by 44.6% in the 4th quarter. Deutsche Bank AG now owns 1,407,754 shares of the real estate investment trust's stock valued at $421,538,000 after purchasing an additional 433,918 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. 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 research report on Tuesday, May 13th. Evercore ISI upped their price objective 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. Mizuho initiated coverage on shares of Public Storage in a research report on Wednesday, April 9th. They set a "neutral" rating and a $287.00 price objective for the company. Royal Bank of Canada cut their price objective 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. Finally, Wells Fargo & Company cut their price objective 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. Five 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $337.42.

Public Storage Price Performance

Shares of NYSE:PSA traded up $0.96 on Friday, reaching $296.74. 558,745 shares of the company were exchanged, compared to its average volume of 745,202. The company has a current ratio of 0.97, a quick ratio of 0.97 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. The firm has a market cap of $52.06 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 4.91 and a beta of 0.91. The company has a 50-day moving average of $293.70 and a 200-day moving average of $304.56.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share 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 for the quarter, compared to analysts' expectations of $1.18 billion. During the same period in the prior year, the company posted $4.03 EPS. The business's revenue for the quarter was up .1% on a year-over-year basis. Equities analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a $3.00 dividend. The ex-dividend date is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.04%. 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.