North Dallas Bank & Trust Co. Acquires Shares of 3,270 Public Storage $PSA

North Dallas Bank & Trust Co. acquired a new stake in Public Storage (NYSE:PSA) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 3,270 shares of the real estate investment trust’s stock, valued at approximately $849,000.

Several other large investors have also modified their holdings of PSA. Norges Bank purchased a new stake in shares of Public Storage during the fourth quarter worth approximately $1,163,751,000. Capital International Investors raised its stake in shares of Public Storage by 821.4% during the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after purchasing an additional 3,686,211 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Public Storage by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after purchasing an additional 2,274,397 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Public Storage by 498.7% during the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after purchasing an additional 481,872 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its stake in shares of Public Storage by 38.0% during the third quarter. Centersquare Investment Management LLC now owns 1,145,607 shares of the real estate investment trust’s stock worth $330,909,000 after purchasing an additional 315,370 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 3.7%

Shares of PSA stock opened at $322.60 on Wednesday. The business’s fifty day moving average price is $300.07 and its 200 day moving average price is $287.69. Public Storage has a 1-year low of $256.54 and a 1-year high of $324.56. The firm has a market capitalization of $56.63 billion, a PE ratio of 33.29, a P/E/G ratio of 4.24 and a beta of 0.98. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company posted $4.12 earnings per share. Public Storage’s quarterly revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, sell-side analysts forecast that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage’s dividend payout ratio is currently 123.84%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Public Storage from $295.00 to $291.00 and set a “neutral” rating for the company in a research note on Monday, March 23rd. Barclays cut their price target on Public Storage from $352.00 to $349.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Evercore upped their price target on Public Storage from $306.00 to $317.00 in a research note on Monday. Scotiabank upped their price objective on Public Storage from $321.00 to $340.00 in a report on Monday, May 11th. Finally, Jefferies Financial Group upped their price objective on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $316.67.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.