Livforsakringsbolaget Skandia Omsesidigt Has $375,000 Stake in Public Storage (NYSE:PSA)

Livforsakringsbolaget Skandia Omsesidigt raised its position in Public Storage (NYSE:PSA) by 347.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,030 shares of the real estate investment trust’s stock after acquiring an additional 800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Public Storage were worth $375,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSA. Signet Financial Management LLC lifted its stake in Public Storage by 2.1% in the 1st quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock valued at $555,000 after purchasing an additional 39 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Public Storage by 0.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock worth $1,201,000 after acquiring an additional 39 shares during the period. Brookstone Capital Management increased its holdings in shares of Public Storage by 3.4% during the 1st quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock worth $354,000 after acquiring an additional 40 shares during the last quarter. Legacy Wealth Asset Management LLC raised its stake in Public Storage by 3.5% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock valued at $357,000 after acquiring an additional 42 shares during the period. Finally, Bangor Savings Bank lifted its holdings in Public Storage by 0.8% during the 1st quarter. Bangor Savings Bank now owns 5,359 shares of the real estate investment trust’s stock valued at $1,554,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.2 %

Shares of NYSE PSA opened at $342.83 on Monday. The stock has a market capitalization of $60.00 billion, a P/E ratio of 32.13, a PEG ratio of 4.82 and a beta of 0.68. The stock’s fifty day moving average is $342.30 and its 200 day moving average is $303.29. Public Storage has a 52 week low of $233.18 and a 52 week high of $369.99. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.93 and a current ratio of 0.93.

Public Storage (NYSE:PSA) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The firm had revenue of $921.70 million during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business earned $4.28 earnings per share. Public Storage’s quarterly revenue was down 1.0% compared to the same quarter last year. Sell-side analysts forecast that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.50%. The ex-dividend date was Friday, September 13th. Public Storage’s payout ratio is presently 112.46%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PSA. Evercore ISI upped their price objective on shares of Public Storage from $334.00 to $343.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Citigroup increased their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Scotiabank increased their target price on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada began coverage on Public Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.36.

Public Storage Profile

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.