Handelsbanken Fonder AB Purchases 1,505 Shares of Public Storage (NYSE:PSA)

Handelsbanken Fonder AB lifted its position in Public Storage (NYSE:PSA) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,701 shares of the real estate investment trust’s stock after buying an additional 1,505 shares during the quarter. Handelsbanken Fonder AB’s holdings in Public Storage were worth $18,209,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PSA. Private Ocean LLC grew its stake in shares of Public Storage by 5,450.0% in the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 109 shares in the last quarter. Centerpoint Advisors LLC bought a new stake in shares of Public Storage in the 4th quarter valued at approximately $35,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Public Storage in the 4th quarter valued at approximately $35,000. Avior Wealth Management LLC grew its stake in shares of Public Storage by 49.5% in the 3rd quarter. Avior Wealth Management LLC now owns 145 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 48 shares in the last quarter. Finally, Aspire Private Capital LLC boosted its position in Public Storage by 44.0% during the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 44 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of NYSE PSA opened at $261.44 on Tuesday. The business has a fifty day simple moving average of $280.36 and a 200 day simple moving average of $276.63. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $45.93 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 3.42 and a beta of 0.54. Public Storage has a one year low of $233.18 and a one year high of $312.25.

Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.16 earnings per share. Sell-side analysts expect that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were paid a $3.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.59%. Public Storage’s payout ratio is 108.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Raymond James raised 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 report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Public Storage in a research report on Tuesday, January 30th. They set a “sell” rating and a $250.00 target price for the company. The Goldman Sachs Group upped their target price on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Truist Financial upped their target price on Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, December 28th. Finally, BMO Capital Markets upped their price target on Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $305.00.

About Public Storage

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.