Janus Henderson Group PLC Boosts Stock Position in Public Storage (NYSE:PSA)

Janus Henderson Group PLC boosted its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 431,129 shares of the real estate investment trust's stock after purchasing an additional 29,972 shares during the period. Janus Henderson Group PLC owned about 0.25% of Public Storage worth $129,021,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Brooklyn Investment Group raised its position in shares of Public Storage by 3.4% during the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock valued at $345,000 after purchasing an additional 38 shares during the period. Werba Rubin Papier Wealth Management lifted its position 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 worth $681,000 after purchasing an additional 38 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 valued at $1,287,000 after acquiring an additional 39 shares in the last quarter. Premier Path Wealth Partners LLC grew its position in shares of Public Storage by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock worth $366,000 after buying an additional 40 shares in the last quarter. Finally, Global X Japan Co. Ltd. increased its holdings in 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 buying an additional 40 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Trading Up 1.3%

Public Storage stock traded up $4.09 during midday trading on Friday, reaching $309.07. 706,932 shares of the stock traded hands, compared to its average volume of 745,141. The firm has a market cap of $54.22 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 4.91 and a beta of 0.91. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a 50-day simple moving average of $293.44 and a two-hundred day simple moving average of $305.93. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating the consensus estimate of $4.06 by $0.06. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm posted $4.03 earnings per share. The business's revenue for the quarter was up .1% compared to the same quarter last year. Research analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.88%. The ex-dividend date is Thursday, June 12th. Public Storage's dividend payout ratio (DPR) is presently 119.17%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PSA. Wells Fargo & Company decreased their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Evercore ISI raised their target price on shares of Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research note on Friday, May 2nd. Royal Bank of Canada cut 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 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 research report on Thursday, April 10th. Finally, Mizuho initiated coverage on Public Storage in a research report on Wednesday, April 9th. They set a "neutral" rating and a $287.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $337.42.

Public Storage Company 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.