BSN CAPITAL PARTNERS Ltd acquired a new position in Public Storage (NYSE:PSA - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,943 shares of the real estate investment trust's stock, valued at approximately $10,531,000. Public Storage comprises approximately 2.0% of BSN CAPITAL PARTNERS Ltd's holdings, making the stock its 24th biggest position.
A number of other institutional investors and hedge funds have also modified their holdings of PSA. OFI Invest Asset Management acquired a new stake in shares of Public Storage in the second quarter worth $32,000. Opal Wealth Advisors LLC acquired a new position in Public Storage during the 2nd quarter valued at $36,000. Riverview Trust Co acquired a new position in Public Storage during the 1st quarter valued at $37,000. Crewe Advisors LLC acquired a new position in Public Storage during the 1st quarter valued at $39,000. Finally, EdgeRock Capital LLC acquired a new position in Public Storage during the 2nd quarter valued at $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on PSA. Citigroup upped their target price on shares of Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Wells Fargo & Company upped their target price on shares of Public Storage from $310.00 to $320.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. Bank of America lowered shares of Public Storage from a "buy" rating to a "neutral" rating and set a $318.00 price target on the stock. in a report on Monday, August 5th. Royal Bank of Canada began coverage on shares of Public Storage in a research note on Tuesday, September 10th. They issued a "sector perform" rating and a $358.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Public Storage has an average rating of "Moderate Buy" and a consensus target price of $337.36.
View Our Latest Research Report on Public Storage
PSA opened at $347.99 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $60.91 billion, a PE ratio of 31.61, a PEG ratio of 4.87 and a beta of 0.68. Public Storage has a 1-year low of $233.18 and a 1-year high of $369.99. The firm has a 50-day moving average price of $340.84 and a two-hundred day moving average price of $302.25.
Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($1.54). The business had revenue of $921.70 million during the quarter, compared to the consensus estimate of $1.16 billion. Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The firm's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the business posted $4.28 EPS. As a group, equities analysts anticipate that Public Storage will post 16.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Friday, September 13th. Public Storage's dividend payout ratio (DPR) is presently 108.99%.
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.
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