OMERS ADMINISTRATION Corp Purchases 1,122 Shares of Public Storage (NYSE:PSA)

OMERS ADMINISTRATION Corp increased its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 20.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,632 shares of the real estate investment trust's stock after acquiring an additional 1,122 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Public Storage were worth $1,986,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PSA. Cohen & Steers Inc. increased its holdings in shares of Public Storage by 12.3% during the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock worth $1,626,731,000 after purchasing an additional 592,944 shares during the period. Geode Capital Management LLC grew its position in Public Storage by 2.0% during the fourth 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 buying an additional 78,472 shares in the last quarter. Norges Bank bought a new position in Public Storage during the 4th quarter worth $931,286,000. Northern Trust Corp raised its holdings in Public Storage by 43.4% in the 4th 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 in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Public Storage by 44.6% during the 4th quarter. Deutsche Bank AG now owns 1,407,754 shares of the real estate investment trust's stock valued at $421,538,000 after acquiring an additional 433,918 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PSA. Bank of America boosted their price target on Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Truist Financial raised shares of 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. Wells Fargo & Company cut their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Scotiabank increased their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Finally, Mizuho initiated coverage on shares of Public Storage in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Public Storage presently has a consensus rating of "Moderate Buy" and a consensus target price of $337.42.

Public Storage Price Performance

Shares of NYSE:PSA traded up $4.09 during trading on Friday, hitting $309.07. 706,932 shares of the company were exchanged, compared to its average volume of 745,161. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The company has a market capitalization of $54.22 billion, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 4.91 and a beta of 0.91. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The business's 50 day moving average is $293.46 and its 200-day moving average is $305.57.

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 analysts' consensus estimates of $4.06 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The business's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.03 EPS. Equities analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

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 issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Thursday, June 12th. Public Storage's dividend payout ratio (DPR) is currently 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.