MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 4,671 Shares of Public Storage (NYSE:PSA)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in shares of Public Storage (NYSE:PSA) by 21.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,570 shares of the real estate investment trust’s stock after selling 4,671 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Public Storage were worth $5,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PSA. Quent Capital LLC raised its holdings in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 50 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Public Storage in the 4th quarter worth $32,000. Synergy Asset Management LLC bought a new position in Public Storage in the 4th quarter worth $38,000. Millstone Evans Group LLC bought a new position in Public Storage in the 4th quarter worth $38,000. Finally, Parvin Asset Management LLC bought a new position in Public Storage in the 4th quarter worth $38,000. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PSA shares. Royal Bank of Canada decreased their target price on Public Storage from $329.00 to $328.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Bank of America raised their target price on Public Storage from $368.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Wells Fargo & Company decreased their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Barclays decreased their price target on Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Truist Financial raised Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price target on the stock in a report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and an average price target of $337.42.

Public Storage Trading Up 1.3%

Shares of Public Storage stock opened at $309.07 on Monday. The firm has a market cap of $54.22 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 4.91 and a beta of 0.91. The business has a 50-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. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share 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 analyst estimates of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $4.03 earnings per share. Equities research analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given 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 3.88%. Public Storage’s payout ratio is 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.