Public Storage (NYSE:PSA) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its position in Public Storage (NYSE:PSA) by 90.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 230 shares of the real estate investment trust’s stock after acquiring an additional 109 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Public Storage were worth $70,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PSA. Geode Capital Management LLC lifted its stake in shares of Public Storage by 3.6% in the first quarter. Geode Capital Management LLC now owns 3,742,458 shares of the real estate investment trust’s stock valued at $1,131,364,000 after purchasing an additional 129,555 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Public Storage by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 3,168,763 shares of the real estate investment trust’s stock valued at $835,032,000 after purchasing an additional 729,262 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Public Storage by 63.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,755,605 shares of the real estate investment trust’s stock valued at $832,580,000 after purchasing an additional 1,071,347 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Public Storage by 22.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,470,839 shares of the real estate investment trust’s stock valued at $633,949,000 after purchasing an additional 451,864 shares during the period. Finally, Norges Bank acquired a new stake in shares of Public Storage in the fourth quarter valued at about $670,512,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Up 0.0 %

Shares of NYSE:PSA opened at $260.39 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58. The company has a fifty day simple moving average of $280.76 and a 200 day simple moving average of $276.35. The firm has a market cap of $45.75 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 3.42 and a beta of 0.54. Public Storage has a 12-month low of $233.18 and a 12-month high of $312.25.

Public Storage (NYSE:PSA) last released its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share 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 business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the firm earned $4.16 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities research analysts anticipate that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $12.00 annualized dividend and a yield of 4.61%. Public Storage’s payout ratio is 108.50%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barclays assumed coverage on shares of Public Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price objective for the company. The Goldman Sachs Group raised their target price on shares of Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 11th. BMO Capital Markets raised their target price on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price for the company in a report on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Public Storage in a report on Tuesday, January 30th. They set a “sell” rating and a $250.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $305.00.

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.