Blue Trust Inc. Has $174,000 Stock Holdings in Public Storage (NYSE:PSA)

Blue Trust Inc. reduced its holdings in shares of Public Storage (NYSE:PSAFree Report) by 16.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 569 shares of the real estate investment trust’s stock after selling 116 shares during the period. Blue Trust Inc.’s holdings in Public Storage were worth $174,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Public Storage by 0.3% in the 2nd quarter. State Street Corp now owns 11,209,856 shares of the real estate investment trust’s stock valued at $3,271,933,000 after purchasing an additional 34,564 shares during the period. Geode Capital Management LLC raised its stake in Public Storage by 3.6% during the first quarter. Geode Capital Management LLC now owns 3,742,458 shares of the real estate investment trust’s stock worth $1,131,364,000 after acquiring an additional 129,555 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Public Storage by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 3,168,763 shares of the real estate investment trust’s stock valued at $835,032,000 after acquiring an additional 729,262 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Public Storage by 63.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,755,605 shares of the real estate investment trust’s stock valued at $832,580,000 after purchasing an additional 1,071,347 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Public Storage by 22.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,470,839 shares of the real estate investment trust’s stock worth $633,949,000 after purchasing an additional 451,864 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PSA. Deutsche Bank Aktiengesellschaft started coverage on shares of Public Storage in a report on Tuesday, January 30th. They set a “sell” rating and a $250.00 price target for the company. The Goldman Sachs Group boosted their target price on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Wells Fargo & Company cut Public Storage from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $270.00 to $280.00 in a report on Tuesday, December 12th. Barclays assumed coverage on Public Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price objective on the stock. Finally, Raymond James upgraded 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 investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $302.50.

Check Out Our Latest Stock Analysis on Public Storage

Public Storage Price Performance

Public Storage stock opened at $286.50 on Tuesday. The stock has a market cap of $50.34 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 3.80 and a beta of 0.54. Public Storage has a 12-month low of $233.18 and a 12-month high of $316.48. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58. The business’s 50-day simple moving average is $283.87 and its 200 day simple moving average is $275.60.

Public Storage (NYSE:PSAGet Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company earned $4.16 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts anticipate that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Tuesday, March 12th. Public Storage’s dividend payout ratio is currently 108.50%.

Public Storage Profile

(Free Report)

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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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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