Quantinno Capital Management LP Has $8.48 Million Stock Holdings in Public Storage (NYSE:PSA)

Quantinno Capital Management LP increased its position in shares of Public Storage (NYSE:PSA - Free Report) by 148.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,309 shares of the real estate investment trust's stock after buying an additional 16,919 shares during the period. Quantinno Capital Management LP's holdings in Public Storage were worth $8,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Public Storage by 5.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust's stock worth $16,089,000 after buying an additional 2,566 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Public Storage by 30.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust's stock worth $40,926,000 after buying an additional 31,662 shares during the period. Meridian Wealth Management LLC purchased a new stake in Public Storage during the 4th quarter worth $395,000. Aew Capital Management L P grew its holdings in Public Storage by 108.6% during the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust's stock worth $131,574,000 after acquiring an additional 228,740 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Public Storage by 53.5% during the 4th quarter. Jones Financial Companies Lllp now owns 19,234 shares of the real estate investment trust's stock worth $5,759,000 after acquiring an additional 6,706 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on PSA shares. Royal Bank of Canada decreased their price objective on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Evercore ISI raised their price objective on shares of Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Scotiabank raised their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a report on Thursday, April 10th. Finally, Barclays decreased their price objective on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating for the company in a report on Friday. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $337.42.

Public Storage Trading Down 0.0%

Shares of PSA stock traded down $0.07 during trading hours on Monday, reaching $309.08. 505,927 shares of the stock traded hands, compared to its average volume of 744,204. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The business has a fifty day moving average price of $293.46 and a 200 day moving average price of $305.41. 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 firm has a market capitalization of $54.22 billion, a PE ratio of 32.10, a PEG ratio of 4.91 and a beta of 0.91.

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. 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 for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the business earned $4.03 earnings per share. The firm's revenue was up .1% compared to the same quarter last year. On average, equities research analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Thursday, June 12th. Public Storage's payout ratio is presently 119.17%.

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.