Public Storage (NYSE:PSA) Stock Holdings Reduced by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its position in shares of Public Storage (NYSE:PSA - Free Report) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 318,189 shares of the real estate investment trust's stock after selling 4,196 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.18% of Public Storage worth $95,279,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Public Storage by 5.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust's stock valued at $16,089,000 after buying an additional 2,566 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Public Storage by 30.2% in 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 purchasing an additional 31,662 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of Public Storage in the fourth quarter valued at about $395,000. Aew Capital Management L P boosted its holdings in Public Storage by 108.6% during the fourth quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust's stock worth $131,574,000 after buying an additional 228,740 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in Public Storage by 53.5% during the fourth quarter. Jones Financial Companies Lllp now owns 19,234 shares of the real estate investment trust's stock worth $5,759,000 after buying an additional 6,706 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Trading Up 0.6%

Shares of NYSE:PSA traded up $1.91 during mid-day trading on Wednesday, hitting $302.05. The stock had a trading volume of 265,328 shares, compared to its average volume of 743,884. The company's 50 day moving average is $293.81 and its 200-day moving average is $304.03. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $52.99 billion, a PE ratio of 31.39, a P/E/G ratio of 4.91 and a beta of 0.91.

Public Storage (NYSE:PSA - Get Free Report) last issued its 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. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The firm's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.03 EPS. On average, sell-side analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be given 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 3.97%. Public Storage's payout ratio is 119.17%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PSA. Scotiabank lifted their price target on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research note on Monday, May 12th. Royal Bank of Canada cut 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 research note on Friday, May 2nd. Wells Fargo & Company dropped their target price 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. 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. Finally, Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $337.42.

About Public Storage

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.