Lansforsakringar Fondforvaltning AB publ Acquires 1,034 Shares of Public Storage $PSA

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

A number of other institutional investors also recently modified their holdings of PSA. Integrated Wealth Concepts LLC raised its stake in shares of Public Storage by 4.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 4,361 shares of the real estate investment trust's stock worth $1,306,000 after acquiring an additional 186 shares during the last quarter. Nebula Research & Development LLC raised its stake in shares of Public Storage by 29.9% in the fourth quarter. Nebula Research & Development LLC now owns 1,359 shares of the real estate investment trust's stock worth $407,000 after acquiring an additional 313 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Public Storage by 3.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,052 shares of the real estate investment trust's stock worth $615,000 after acquiring an additional 59 shares during the last quarter. Lido Advisors LLC raised its stake 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 worth $1,287,000 after buying an additional 39 shares during the last quarter. Finally, Navigoe LLC bought a new stake in shares of Public Storage during the fourth quarter worth approximately $59,000. 78.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PSA shares. Evercore ISI boosted their price target on shares of Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a research note on Monday, August 4th. Wall Street Zen downgraded shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Barclays dropped their price target on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Bank of America boosted their price target on shares of Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Scotiabank dropped their price target on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating for the company in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $331.62.

Public Storage Trading Up 1.0%

NYSE PSA traded up $3.05 during trading on Monday, reaching $294.72. 519,329 shares of the stock traded hands, compared to its average volume of 648,565. The firm has a market cap of $51.71 billion, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 4.89 and a beta of 0.86. The stock's 50-day moving average price is $287.69 and its 200 day moving average price is $294.04. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. 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 released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The business also recently declared 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 is Monday, September 15th. Public Storage's dividend payout ratio is 130.86%.

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.