Canada Pension Plan Investment Board Has $343.97 Million Stock Position in Public Storage (NYSE:PSA)

Canada Pension Plan Investment Board lifted its position in shares of Public Storage (NYSE:PSA - Free Report) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,195,785 shares of the real estate investment trust's stock after purchasing an additional 95,080 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.68% of Public Storage worth $343,968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PSA. Benjamin F. Edwards & Company Inc. raised its stake in shares of Public Storage by 10.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,248 shares of the real estate investment trust's stock valued at $2,372,000 after buying an additional 758 shares in the last quarter. Ieq Capital LLC increased its stake in Public Storage by 7.3% in the second quarter. Ieq Capital LLC now owns 13,695 shares of the real estate investment trust's stock valued at $3,939,000 after acquiring an additional 934 shares during the period. Brighton Jones LLC raised its position in Public Storage by 35.4% in the second quarter. Brighton Jones LLC now owns 2,079 shares of the real estate investment trust's stock worth $598,000 after purchasing an additional 543 shares in the last quarter. Inspire Investing LLC lifted its stake in Public Storage by 161.6% during the second quarter. Inspire Investing LLC now owns 4,709 shares of the real estate investment trust's stock worth $1,355,000 after purchasing an additional 2,909 shares during the period. Finally, XTX Topco Ltd boosted its holdings in Public Storage by 173.3% during the second quarter. XTX Topco Ltd now owns 1,905 shares of the real estate investment trust's stock valued at $548,000 after purchasing an additional 1,208 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PSA shares. Scotiabank raised their target price on Public Storage from $308.00 to $339.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 22nd. Truist Financial downgraded shares of Public Storage from a "buy" rating to a "hold" rating and set a $306.00 target price on the stock. in a research note on Thursday, August 1st. Royal Bank of Canada initiated coverage on shares of Public Storage in a research report on Tuesday, September 10th. They set a "sector perform" rating and a $358.00 target price for the company. Bank of America lowered shares of Public Storage from a "buy" rating to a "neutral" rating and set a $318.00 price objective for the company. in a report on Monday, August 5th. Finally, Wells Fargo & Company boosted their target price on Public Storage from $310.00 to $320.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Public Storage has an average rating of "Moderate Buy" and an average price target of $332.71.

Public Storage Trading Up 0.9 %

NYSE:PSA traded up $3.10 on Friday, hitting $361.72. 2,196,297 shares of the stock were exchanged, compared to its average volume of 716,941. The stock has a market capitalization of $63.31 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 5.12 and a beta of 0.67. 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 has a 52 week low of $233.18 and a 52 week high of $366.29. The company's 50-day moving average price is $325.73 and its 200 day moving average price is $295.10.

Public Storage (NYSE:PSA - Get Free Report) last issued 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 business had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm posted $4.28 EPS. The business's revenue was down 1.0% on a year-over-year basis. On average, equities research analysts forecast that Public Storage will post 16.73 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, September 13th. Public Storage's dividend payout ratio (DPR) is currently 108.99%.

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.