Public Storage $PSA Shares Acquired by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB publ increased its stake in Public Storage by 0.8%, bringing its total to 124,671 shares, valued at approximately $37.31 million.
• Wall Street analysts have mixed ratings for Public Storage, with two analysts giving it a "Strong Buy," eight a "Buy," and six a "Hold," reflecting a consensus average price target of $335.43.
• Public Storage declared a quarterly dividend of $3.00 per share, representing an annualized yield of 4.1%, with a dividend payout ratio currently at 130.86%.

Lansforsakringar Fondforvaltning AB publ grew its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,671 shares of the real estate investment trust's stock after purchasing an additional 1,034 shares during the period. Lansforsakringar Fondforvaltning AB publ owned about 0.07% of Public Storage worth $37,313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSA. Nuveen LLC purchased a new stake in Public Storage during the first quarter worth about $271,196,000. GAMMA Investing LLC increased its stake in Public Storage by 34,827.1% during the first quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust's stock worth $157,114,000 after purchasing an additional 523,452 shares during the period. Deutsche Bank AG increased its stake in Public Storage by 44.6% during the fourth quarter. Deutsche Bank AG now owns 1,407,754 shares of the real estate investment trust's stock worth $421,538,000 after purchasing an additional 433,918 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Public Storage during the fourth quarter worth about $99,157,000. Finally, Point72 Asset Management L.P. purchased a new stake in Public Storage during the fourth quarter worth about $60,742,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PSA shares. Barclays cut their target price on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Wall Street Zen lowered shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Wells Fargo & Company cut their target price on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Finally, BNP Paribas Exane started coverage on shares of Public Storage in a research note on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $331.62.

Public Storage Stock Down 1.2%

PSA traded down $3.50 on Tuesday, reaching $291.09. The company's stock had a trading volume of 431,340 shares, compared to its average volume of 791,595. The stock has a 50 day moving average of $287.68 and a two-hundred day moving average of $294.02. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $51.07 billion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 4.89 and a beta of 0.86. 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 results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.23 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Public Storage's dividend payout ratio is presently 130.86%.

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.