Thrivent Financial for Lutherans grew its stake in Public Storage (NYSE:PSA – Free Report) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,698 shares of the real estate investment trust’s stock after purchasing an additional 3,048 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Public Storage were worth $9,006,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Public Storage by 9.9% in the 4th 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 during the period. JPMorgan Chase & Co. lifted its stake in shares of Public Storage by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust’s stock valued at $963,177,000 after purchasing an additional 177,421 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Public Storage by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,194,212 shares of the real estate investment trust’s stock valued at $633,796,000 after purchasing an additional 49,996 shares during the period. APG Asset Management US Inc. lifted its stake in shares of Public Storage by 0.7% in the 3rd 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 purchasing an additional 14,367 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake 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 purchasing an additional 96,627 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. William Blair set a $305.00 price target on Public Storage in a research note on Monday, March 16th. Wolfe Research downgraded Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Royal Bank Of Canada increased their price target on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Public Storage in a research note on Monday, March 16th. Finally, UBS Group raised their price objective on Public Storage from $276.00 to $314.00 and gave the stock a “neutral” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $312.94.
Public Storage Price Performance
PSA stock opened at $297.78 on Wednesday. The stock has a 50-day moving average price of $293.18 and a two-hundred day moving average price of $284.40. The stock has a market cap of $52.28 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 4.04 and a beta of 1.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a 1 year low of $256.54 and a 1 year high of $313.51.
Public Storage (NYSE:PSA – Get Free Report) last released 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 firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities analysts forecast that Public Storage will post 16.89 EPS for the current fiscal year.
Public Storage Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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 4.0%. The ex-dividend date is Monday, June 15th. Public Storage’s dividend payout ratio 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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