Handelsbanken Fonder AB raised its stake in shares of Public Storage (NYSE:PSA – Free Report) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,345 shares of the real estate investment trust’s stock after acquiring an additional 2,877 shares during the quarter. Handelsbanken Fonder AB’s holdings in Public Storage were worth $18,774,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in 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 valued at $6,576,534,000 after purchasing an additional 2,274,397 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Public Storage by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust’s stock worth $963,177,000 after purchasing an additional 177,421 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Public Storage by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,194,212 shares of the real estate investment trust’s stock worth $633,796,000 after purchasing an additional 49,996 shares in the last quarter. APG Asset Management US Inc. lifted its position in shares of Public Storage by 0.7% during the third quarter. APG Asset Management US Inc. now owns 2,184,979 shares of the real estate investment trust’s stock valued at $635,130,000 after buying an additional 14,367 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Public Storage by 5.2% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,940,574 shares of the real estate investment trust’s stock valued at $560,535,000 after buying an additional 96,627 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
PSA has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank Of Canada raised their target price on shares of Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Scotiabank lifted their price target on shares of Public Storage from $321.00 to $340.00 in a report on Monday, May 11th. William Blair set a $305.00 price target on Public Storage in a research report on Monday, March 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $313.22.
Public Storage Trading Up 1.8%
Public Storage stock opened at $302.83 on Thursday. The stock has a 50-day moving average price of $293.10 and a 200 day moving average price of $284.56. The company has a market capitalization of $53.16 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 4.06 and a beta of 1.00. Public Storage has a 52 week low of $256.54 and a 52 week high of $313.51. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02.
Public Storage (NYSE:PSA – Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the firm posted $4.12 EPS. Public Storage’s revenue for the quarter was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Sell-side analysts anticipate that Public Storage will post 16.89 EPS for the current year.
Public Storage Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $3.00 per share. The ex-dividend date is Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. Public Storage’s dividend payout ratio (DPR) is presently 123.84%.
Public Storage Company Profile
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.
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