Universal Beteiligungs und Servicegesellschaft mbH Sells 14,696 Shares of Public Storage (NYSE:PSA)

Universal Beteiligungs und Servicegesellschaft mbH decreased its stake in Public Storage (NYSE:PSA - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 316,444 shares of the real estate investment trust's stock after selling 14,696 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.18% of Public Storage worth $94,709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cohen & Steers Inc. lifted its stake in 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 during the last quarter. Geode Capital Management LLC lifted its stake in 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 valued at $1,197,769,000 after purchasing an additional 78,472 shares during the last quarter. Norges Bank acquired a new position in Public Storage in the 4th quarter valued at approximately $931,286,000. Northern Trust Corp raised its stake in shares of 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 valued at $741,592,000 after acquiring an additional 749,913 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Public Storage by 10.3% during the fourth 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 worth $509,803,000 after purchasing an additional 158,665 shares during the period. Institutional investors own 78.79% of the company's stock.

Wall Street Analyst Weigh In

PSA has been the subject of a number of recent research reports. Mizuho increased their price objective on Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Evercore ISI upped their price target on Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Bank of America raised their price objective on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a report on Thursday, April 10th. Finally, BNP Paribas Exane assumed coverage on Public Storage in a report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price on the stock. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $336.93.

Public Storage Stock Down 0.8%

NYSE PSA traded down $2.19 on Thursday, hitting $287.43. 371,384 shares of the company were exchanged, compared to its average volume of 799,060. The company has a market cap of $50.42 billion, a PE ratio of 28.54, a PEG ratio of 4.24 and a beta of 0.86. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The stock has a fifty day moving average of $295.83 and a 200-day moving average of $296.18. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77.

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 (EPS) for the quarter, topping the consensus estimate of $4.06 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. Public Storage's revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.03 earnings per share. As a group, analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Thursday, June 12th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, June 12th. Public Storage's dividend payout ratio is presently 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.