UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $509.80 Million Stake in Public Storage (NYSE:PSA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Public Storage (NYSE:PSA) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,702,522 shares of the real estate investment trust’s stock after buying an additional 158,665 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Public Storage were worth $509,803,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PSA. Cohen & Steers Inc. raised its position in Public Storage by 12.3% in the 4th quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust’s stock valued at $1,626,731,000 after purchasing an additional 592,944 shares during the last quarter. Geode Capital Management LLC raised its position in Public Storage by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,010,044 shares of the real estate investment trust’s stock valued at $1,197,769,000 after purchasing an additional 78,472 shares during the last quarter. Norges Bank bought a new position in Public Storage in the 4th quarter valued at $931,286,000. Northern Trust Corp raised its position 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 purchasing an additional 749,913 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Public Storage by 44.6% in 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 purchasing an additional 433,918 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Down 0.6%

PSA stock opened at $307.52 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The business has a fifty day moving average of $293.87 and a 200-day moving average of $305.32. The company has a market cap of $53.95 billion, a P/E ratio of 31.93, a PEG ratio of 4.91 and a beta of 0.91.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $4.06 by $0.06. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm earned $4.03 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities research analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

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 paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.90%. Public Storage’s dividend payout ratio (DPR) is presently 119.17%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PSA shares. Bank of America lifted their price objective on Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Mizuho started coverage on Public Storage in a research report on Wednesday, April 9th. They issued a “neutral” rating and a $287.00 price objective for the company. Barclays cut their price objective on Public Storage from $354.00 to $351.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Truist Financial upgraded Public Storage from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a research report on Thursday, April 10th. Finally, Evercore ISI boosted their target price on Public Storage from $297.00 to $309.00 and gave the stock an “in-line” rating in a research report on Friday, May 2nd. Five 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, the company has an average rating of “Moderate Buy” and an average price target of $337.42.

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.