Stanley Laman Group Ltd. Purchases Shares of 1,350 Public Storage (NYSE:PSA)

Stanley Laman Group Ltd. bought a new stake in Public Storage (NYSE:PSA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,350 shares of the real estate investment trust's stock, valued at approximately $404,000.

Several other institutional investors have also recently made changes to their positions in PSA. Cohen & Steers Inc. raised its holdings in shares of Public Storage by 12.3% in the 4th quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock valued at $1,626,731,000 after purchasing an additional 592,944 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Public Storage by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,010,044 shares of the real estate investment trust's stock worth $1,197,769,000 after acquiring an additional 78,472 shares during the period. Norges Bank acquired a new stake in Public Storage in the fourth quarter valued at $931,286,000. Northern Trust Corp boosted its holdings in Public Storage by 43.4% during the fourth quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust's stock worth $741,592,000 after buying an additional 749,913 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Public Storage by 10.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,702,522 shares of the real estate investment trust's stock valued at $509,803,000 after purchasing an additional 158,665 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PSA shares. Royal Bank of Canada decreased 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. Scotiabank boosted their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. Wells Fargo & Company dropped 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. Truist Financial raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective on the stock in a research note on Thursday, April 10th. Finally, Mizuho increased their price target on Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $339.25.

Public Storage Trading Down 0.6%

NYSE PSA traded down $1.80 on Friday, hitting $294.85. 708,578 shares of the company were exchanged, compared to its average volume of 746,555. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company's 50 day moving average price is $297.10 and its 200-day moving average price is $301.16. The firm has a market capitalization of $51.73 billion, a P/E ratio of 30.62, a price-to-earnings-growth ratio of 4.91 and a beta of 0.89.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. The firm 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 business's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.03 earnings per share. Analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage's dividend payout ratio is 119.17%.

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.