California State Teachers Retirement System Sells 7,890 Shares of Public Storage (NYSE:PSA)

California State Teachers Retirement System lessened its stake in Public Storage (NYSE:PSA - Free Report) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 247,432 shares of the real estate investment trust's stock after selling 7,890 shares during the period. California State Teachers Retirement System owned about 0.14% of Public Storage worth $74,091,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lido Advisors LLC raised its stake in 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 worth $1,287,000 after buying an additional 39 shares during the last quarter. Northern Trust Corp lifted its stake in shares of 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 purchasing an additional 749,913 shares during the period. Johnson Financial Group Inc. grew its stake in Public Storage by 24.3% during the fourth quarter. Johnson Financial Group Inc. now owns 7,970 shares of the real estate investment trust's stock worth $2,379,000 after purchasing an additional 1,558 shares during the period. Boothbay Fund Management LLC increased its holdings in Public Storage by 871.9% in the fourth quarter. Boothbay Fund Management LLC now owns 18,573 shares of the real estate investment trust's stock worth $5,561,000 after purchasing an additional 16,662 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Public Storage during the fourth quarter worth $17,321,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of NYSE PSA traded up $0.14 during midday trading on Friday, reaching $300.14. The company's stock had a trading volume of 1,290,514 shares, compared to its average volume of 738,730. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $52.65 billion, a P/E ratio of 31.17, a PEG ratio of 4.91 and a beta of 0.76. The firm has a 50 day moving average price of $294.73 and a 200-day moving average price of $308.30. 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 announced its quarterly earnings data 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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.03 EPS. As a group, equities analysts predict 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, March 28th. Stockholders of record on Thursday, March 13th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's dividend payout ratio is currently 119.17%.

Analyst Upgrades and Downgrades

PSA has been the topic of several recent research reports. Evercore ISI increased their price target on Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a report on Friday. Mizuho began coverage on Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and boosted their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Bank of America raised shares of Public Storage from a "neutral" rating to a "buy" rating and raised their price objective for the company from $349.00 to $368.00 in a research note on Tuesday, April 22nd. Finally, Truist Financial upgraded 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. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Public Storage currently has an average rating of "Moderate Buy" and an average price target of $333.75.

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.