Public Storage (NYSE:PSA) Shares Sold by Bokf Na

BOKF NA cut its stake in Public Storage (NYSE:PSA - Free Report) by 11.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,293 shares of the real estate investment trust's stock after selling 3,936 shares during the period. BOKF NA's holdings in Public Storage were worth $8,426,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Gold Investment Management Ltd. acquired a new position in Public Storage in the fourth quarter valued at approximately $849,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Public Storage by 4.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 129,091 shares of the real estate investment trust's stock valued at $39,373,000 after buying an additional 5,239 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in Public Storage during the 1st quarter worth $7,319,000. Centersquare Investment Management LLC lifted its position in Public Storage by 17.2% in the first quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust's stock valued at $343,573,000 after acquiring an additional 173,975 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new position in Public Storage in the fourth quarter valued at $4,701,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PSA shares. Citigroup lifted their target price 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. Truist Financial downgraded shares of Public Storage from a "buy" rating to a "hold" rating and set a $306.00 target price for the company. in a research note on Thursday, August 1st. Wells Fargo & Company upped their price objective on Public Storage from $310.00 to $320.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. Evercore ISI increased their price objective on Public Storage from $330.00 to $334.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 28th. Finally, Royal Bank of Canada started coverage on Public Storage in a research note on Tuesday. They set 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 given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $326.21.

Public Storage Trading Up 0.8 %

Shares of PSA traded up $3.01 during mid-day trading on Friday, hitting $359.16. The company had a trading volume of 537,873 shares, compared to its average volume of 711,647. Public Storage has a 1-year low of $233.18 and a 1-year high of $361.23. The business's 50-day simple moving average is $318.81 and its 200-day simple moving average is $292.36. The stock has a market cap of $62.86 billion, a PE ratio of 32.62, a P/E/G ratio of 5.07 and a beta of 0.67. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72.

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

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.34%. Public Storage's dividend payout ratio is presently 108.99%.

Public Storage Company 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.