Public Storage (NYSE:PSA) Shares Sold by Public Employees Retirement System of Ohio

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Werba Rubin Papier Wealth Management grew its holdings in shares of Public Storage by 1.7% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock valued at $681,000 after purchasing an additional 38 shares during the last quarter. Lido Advisors LLC grew its holdings in shares of Public Storage by 0.9% during the fourth quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock valued at $1,287,000 after purchasing an additional 39 shares during the last quarter. Global X Japan Co. Ltd. grew its holdings in shares of Public Storage by 13.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock valued at $100,000 after purchasing an additional 40 shares during the last quarter. Yoder Wealth Management Inc. grew its holdings in shares of Public Storage by 5.4% during the fourth quarter. Yoder Wealth Management Inc. now owns 804 shares of the real estate investment trust's stock valued at $241,000 after purchasing an additional 41 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its holdings in shares of Public Storage by 4.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 1,090 shares of the real estate investment trust's stock valued at $326,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Trading Up 0.0%

Shares of Public Storage stock opened at $295.94 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market cap of $51.92 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 4.91 and a beta of 0.91. The business has a fifty day simple moving average of $293.74 and a 200-day simple moving average of $305.00. Public Storage has a fifty-two week low of $256.60 and a fifty-two week 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 earnings per share for the quarter, beating the consensus estimate of $4.06 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The company's revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.03 earnings per share. On average, equities analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be issued a $3.00 dividend. The ex-dividend date is Thursday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.05%. Public Storage's dividend payout ratio (DPR) is 119.17%.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of recent analyst reports. Evercore ISI increased their price objective on Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Mizuho initiated coverage on Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price objective for the company. Royal Bank of Canada decreased their price objective 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. Truist Financial raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a report on Thursday, April 10th. Finally, Wells Fargo & Company decreased their price objective on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Five 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.

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