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

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Public Storage (NYSE:PSA) by 90.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 230 shares of the real estate investment trust’s stock after purchasing an additional 109 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Public Storage were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its holdings in Public Storage by 16.1% in the third quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust’s stock valued at $2,567,000 after buying an additional 1,349 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Public Storage by 8.0% in the third quarter. The Manufacturers Life Insurance Company now owns 123,852 shares of the real estate investment trust’s stock valued at $32,638,000 after buying an additional 9,223 shares in the last quarter. Raymond James & Associates increased its holdings in Public Storage by 4.3% in the fourth quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock valued at $34,917,000 after buying an additional 4,695 shares in the last quarter. Ellsworth Advisors LLC increased its holdings in Public Storage by 615.7% in the fourth quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust’s stock valued at $6,040,000 after buying an additional 17,036 shares in the last quarter. Finally, 1834 Investment Advisors Co. increased its holdings in Public Storage by 115.3% in the fourth quarter. 1834 Investment Advisors Co. now owns 16,952 shares of the real estate investment trust’s stock valued at $5,170,000 after buying an additional 9,078 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Performance

NYSE:PSA opened at $260.39 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $45.75 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 3.42 and a beta of 0.54. The company’s 50-day moving average is $280.76 and its two-hundred day moving average is $276.35. Public Storage has a 1-year low of $233.18 and a 1-year high of $312.25.

Public Storage (NYSE:PSA) last posted 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). The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.16 earnings per share. Analysts forecast that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Barclays assumed coverage on shares of Public Storage in a research note on Wednesday, March 27th. They set an “overweight” rating and a $330.00 target price for the company. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $280.00 to $310.00 in a research note on Friday, April 5th. Scotiabank boosted their target price on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research note on Monday, March 18th. Finally, Raymond James raised 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 research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $305.00.

About Public Storage

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.