Bank Julius Baer & Co. Ltd Zurich Has $49.77 Million Holdings in Public Storage (NYSE:PSA)

Bank Julius Baer & Co. Ltd Zurich increased its holdings in Public Storage (NYSE:PSA - Free Report) by 8.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,191 shares of the real estate investment trust's stock after acquiring an additional 12,574 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned about 0.09% of Public Storage worth $49,773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PSA. Private Ocean LLC raised its holdings in shares of Public Storage by 5,450.0% in the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 109 shares during the last quarter. Centerpoint Advisors LLC purchased a new stake in Public Storage in the 4th quarter valued at about $35,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Public Storage in the 4th quarter valued at about $35,000. Avior Wealth Management LLC increased its stake in Public Storage by 49.5% in the 3rd quarter. Avior Wealth Management LLC now owns 145 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 48 shares during the last quarter. Finally, Aspire Private Capital LLC increased its stake in Public Storage by 44.0% in the 3rd quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 44 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Price Performance

NYSE:PSA traded down $3.49 during trading hours on Thursday, hitting $258.68. The stock had a trading volume of 598,385 shares, compared to its average volume of 722,773. The company has a 50 day simple moving average of $279.71 and a two-hundred day simple moving average of $276.52. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.62. Public Storage has a one year low of $233.18 and a one year high of $312.25. The firm has a market capitalization of $45.45 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 3.44 and a beta of 0.54.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing the consensus estimate of $4.15 by ($1.94). Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $4.16 earnings per share. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts forecast that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date was Tuesday, March 12th. Public Storage's dividend payout ratio is currently 108.50%.

Wall Street Analyst Weigh In

Several research firms have commented on PSA. Wells Fargo & Company upgraded shares of Public Storage from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $280.00 to $310.00 in a research note on Friday, April 5th. Truist Financial increased their price objective on shares of Public Storage from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, December 28th. Raymond James upgraded shares of Public Storage from a "market perform" rating to a "strong-buy" rating and set a $330.00 price objective for the company in a research note on Thursday, March 28th. Scotiabank raised their price target on shares of Public Storage from $267.00 to $270.00 and gave the stock a "sector perform" rating in a research note on Monday, March 18th. Finally, Barclays initiated coverage on shares of Public Storage in a research note on Wednesday, March 27th. They set an "overweight" rating and a $330.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $305.00.

Public Storage 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.

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