Public Storage (NYSE:PSA) Shares Bought by Johnson Financial Group Inc.

Johnson Financial Group Inc. grew its stake in shares of Public Storage (NYSE:PSA - Free Report) by 24.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,970 shares of the real estate investment trust's stock after buying an additional 1,558 shares during the period. Johnson Financial Group Inc.'s holdings in Public Storage were worth $2,379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PSA. Barclays PLC raised its position in shares of Public Storage by 2.9% during the 3rd quarter. Barclays PLC now owns 465,653 shares of the real estate investment trust's stock valued at $169,433,000 after buying an additional 13,065 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of Public Storage by 24.6% in the third quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust's stock valued at $79,000 after acquiring an additional 43 shares during the period. World Investment Advisors LLC bought a new stake in shares of Public Storage during the 3rd quarter valued at about $3,713,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Public Storage during the 3rd quarter valued at about $1,466,000. Finally, Tidal Investments LLC boosted its stake in shares of Public Storage by 30.3% during the 3rd quarter. Tidal Investments LLC now owns 11,386 shares of the real estate investment trust's stock valued at $4,143,000 after purchasing an additional 2,646 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Price Performance

PSA traded up $0.43 on Thursday, reaching $300.86. 402,307 shares of the company's stock were exchanged, compared to its average volume of 779,532. The stock has a market cap of $52.78 billion, a PE ratio of 31.24, a P/E/G ratio of 4.91 and a beta of 0.76. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The stock's fifty day moving average price is $294.94 and its 200-day moving average price is $308.91. 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 (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The business's revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.03 EPS. Sell-side analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.99%. The ex-dividend date was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is presently 119.17%.

Analyst Upgrades and Downgrades

Several analysts have commented on PSA shares. Royal Bank of Canada cut their target price on Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company cut 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. Scotiabank upgraded Public Storage from a "sector perform" rating to a "sector outperform" rating and lowered their target price for the company from $333.00 to $305.00 in a research report on Wednesday, April 9th. Mizuho began 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. Finally, Bank of America upgraded Public Storage from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $349.00 to $368.00 in a research report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $336.25.

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.