California State Teachers Retirement System Has $104.87 Million Holdings in Public Storage (NYSE:PSA)

California State Teachers Retirement System grew its holdings in shares of Public Storage (NYSE:PSAGet Rating) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 279,968 shares of the real estate investment trust’s stock after purchasing an additional 10,919 shares during the period. California State Teachers Retirement System owned about 0.16% of Public Storage worth $104,865,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. State Street Corp grew its position in shares of Public Storage by 6.1% during the 4th quarter. State Street Corp now owns 10,581,880 shares of the real estate investment trust’s stock worth $3,963,549,000 after purchasing an additional 608,871 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Public Storage by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 3,183,181 shares of the real estate investment trust’s stock worth $1,189,857,000 after purchasing an additional 66,728 shares in the last quarter. Northern Trust Corp grew its position in shares of Public Storage by 18.2% during the 4th quarter. Northern Trust Corp now owns 2,792,588 shares of the real estate investment trust’s stock worth $1,045,992,000 after purchasing an additional 430,899 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Public Storage by 0.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,323,194 shares of the real estate investment trust’s stock worth $393,120,000 after purchasing an additional 3,337 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its position in shares of Public Storage by 32.0% during the 4th quarter. Centersquare Investment Management LLC now owns 1,223,270 shares of the real estate investment trust’s stock worth $458,187,000 after purchasing an additional 296,261 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

A number of brokerages have recently weighed in on PSA. StockNews.com downgraded shares of Public Storage from a “buy” rating to a “hold” rating in a report on Friday, June 10th. Truist Financial cut their price target on shares of Public Storage from $425.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, June 1st. JPMorgan Chase & Co. upped their price target on shares of Public Storage from $385.00 to $434.00 and gave the stock an “overweight” rating in a report on Monday, April 4th. The Goldman Sachs Group upped their price target on shares of Public Storage from $398.00 to $440.00 and gave the stock a “neutral” rating in a report on Thursday, April 14th. Finally, Morgan Stanley cut their price target on shares of Public Storage from $357.00 to $298.00 and set an “equal weight” rating for the company in a report on Wednesday, May 25th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Public Storage currently has an average rating of “Buy” and an average price target of $372.91.

Shares of NYSE:PSA opened at $297.84 on Wednesday. The company has a market cap of $52.26 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 2.81 and a beta of 0.29. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a 50 day simple moving average of $352.83 and a 200 day simple moving average of $358.31. Public Storage has a one year low of $290.41 and a one year high of $421.76.

Public Storage (NYSE:PSAGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.96). The business had revenue of $749.27 million for the quarter, compared to the consensus estimate of $985.58 million. Public Storage had a net margin of 54.79% and a return on equity of 38.01%. Public Storage’s revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.82 EPS. As a group, analysts expect that Public Storage will post 15.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, June 14th. Public Storage’s payout ratio is currently 77.75%.

Public Storage Company Profile (Get Rating)

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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

Featured Stories

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSAGet Rating).

Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.