TD Asset Management Inc cut its stake in Public Storage (NYSE:PSA – Free Report) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,263 shares of the real estate investment trust’s stock after selling 17,180 shares during the period. TD Asset Management Inc owned approximately 0.09% of Public Storage worth $42,107,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Public Storage by 1.7% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 37 shares in the last quarter. Doliver Advisors LP raised its stake in shares of Public Storage by 1.0% in the 4th quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust’s stock valued at $1,071,000 after buying an additional 39 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Public Storage by 18.8% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 259 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 41 shares in the last quarter. Hilltop Holdings Inc. raised its stake in shares of Public Storage by 4.7% in the 3rd quarter. Hilltop Holdings Inc. now owns 906 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 41 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in shares of Public Storage by 1.1% in the 3rd quarter. Synovus Financial Corp now owns 3,969 shares of the real estate investment trust’s stock valued at $1,147,000 after buying an additional 44 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.
Analysts Set New Price Targets
PSA has been the subject of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research note on Tuesday, April 21st. Evercore set a $306.00 price objective on shares of Public Storage in a research note on Monday, May 4th. The Goldman Sachs Group restated a “buy” rating and issued a $341.00 price objective on shares of Public Storage in a research note on Wednesday, April 29th. BMO Capital Markets restated a “market perform” rating on shares of Public Storage in a research note on Monday, March 16th. Finally, Royal Bank Of Canada increased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $316.06.
Public Storage Trading Up 1.1%
Shares of Public Storage stock opened at $309.98 on Friday. The stock has a market capitalization of $54.42 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 4.22 and a beta of 0.98. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. The company has a 50-day simple moving average of $298.08 and a 200 day simple moving average of $286.89. Public Storage has a 12-month low of $256.54 and a 12-month high of $313.51.
Public Storage (NYSE:PSA – Get Free Report) last announced its 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. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the company posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Research analysts expect that Public Storage will post 16.92 earnings per share for the current fiscal year.
Public Storage Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given 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 3.9%. Public Storage’s dividend payout ratio (DPR) is 123.84%.
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.
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