Public Storage (NYSE:PSA) Shares Purchased by UMB Bank n.a.

UMB Bank n.a. increased its holdings in Public Storage (NYSE:PSA - Free Report) by 6.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,552 shares of the real estate investment trust's stock after buying an additional 1,256 shares during the period. UMB Bank n.a.'s holdings in Public Storage were worth $6,450,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cohen & Steers Inc. lifted its holdings in shares of 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Public Storage by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,010,044 shares of the real estate investment trust's stock worth $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 approximately $931,286,000. Northern Trust Corp grew its holdings in Public Storage by 43.4% during 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 buying an additional 749,913 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Public Storage by 10.3% during the 4th 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 valued at $509,803,000 after buying an additional 158,665 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Down 0.1%

Shares of NYSE PSA traded down $0.26 during midday trading on Monday, hitting $302.65. The stock had a trading volume of 569,300 shares, compared to its average volume of 748,033. The company has a quick ratio of 0.97, a current 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 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 fifty day moving average price of $295.50 and a 200 day moving average price of $302.14.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, beating 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 firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same period in the previous year, the company posted $4.03 earnings per share. Public Storage's revenue was up .1% compared to the same quarter last year. On average, analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 3.97%. Public Storage's dividend payout ratio (DPR) is 119.17%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PSA. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective on the stock in a research report on Thursday, April 10th. Scotiabank boosted 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 reduced their price objective on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Evercore ISI lifted 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 note on Friday, May 2nd. Finally, Royal Bank of Canada cut their price target on Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $339.25.

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.