Public Storage (NYSE:PSA) Shares Bought by Achmea Investment Management B.V.

Achmea Investment Management B.V. lifted its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 33.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,560 shares of the real estate investment trust's stock after buying an additional 16,133 shares during the period. Achmea Investment Management B.V.'s holdings in Public Storage were worth $19,323,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Ameriflex Group Inc. bought a new stake in shares of Public Storage during the fourth quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage during the 4th quarter valued at $32,000. Opal Wealth Advisors LLC acquired a new position in Public Storage during the 1st quarter worth $36,000. Millstone Evans Group LLC bought a new position in shares of Public Storage in the fourth quarter worth $38,000. Finally, Parvin Asset Management LLC acquired a new position in shares of Public Storage during the fourth quarter valued at $38,000. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Down 0.2%

NYSE PSA opened at $288.90 on Friday. Public Storage has a one year low of $256.60 and a one year high of $369.99. The firm has a market cap of $50.68 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 4.19 and a beta of 0.89. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.55 and a quick ratio of 0.55. The stock's 50 day simple moving average is $298.67 and its 200 day simple moving average is $298.14.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating the consensus estimate 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%. During the same period in the prior year, the firm earned $4.03 earnings per share. Public Storage's revenue was up .1% compared to the same quarter last year. As a group, sell-side 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. Shareholders of record on Thursday, June 12th will be paid a $3.00 dividend. 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 4.15%. Public Storage's payout ratio is presently 119.17%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PSA. Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a research report on Thursday, April 10th. Scotiabank boosted their target price on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Barclays lowered their target price on Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. BNP Paribas raised Public Storage to a "strong-buy" rating in a report on Tuesday. Finally, Evercore ISI upped their price objective 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. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Public Storage currently has an average rating of "Moderate Buy" and an average price target of $337.64.

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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