Bokf Na Decreases Position in Public Storage (NYSE:PSA)

Bokf Na trimmed its holdings in shares of Public Storage (NYSE:PSA) by 11.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & 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 reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in Public Storage by 107.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 44 shares during the period. Core Wealth Advisors Inc. purchased a new stake in Public Storage during the 4th quarter valued at $30,000. OFI Invest Asset Management bought a new stake in Public Storage in the 2nd quarter worth $32,000. ICA Group Wealth Management LLC purchased a new position in shares of Public Storage in the fourth quarter valued at about $37,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Public Storage during the second quarter valued at about $36,000. 78.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on PSA shares. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a research note on Monday, August 5th. Truist Financial cut 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. Wolfe Research raised Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Citigroup lifted 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. Finally, Royal Bank of Canada began coverage on shares of Public Storage in a report on Tuesday. They issued a “sector perform” rating and a $358.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.21.

Public Storage Trading Down 0.1 %

Public Storage stock opened at $359.12 on Friday. Public Storage has a 12 month low of $233.18 and a 12 month high of $361.23. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The business’s fifty day simple moving average is $318.81 and its two-hundred day simple moving average is $292.36. The company has a market capitalization of $62.85 billion, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 5.07 and a beta of 0.67.

Public Storage (NYSE:PSA) last announced its quarterly earnings results 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). 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 for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business earned $4.28 EPS. Public Storage’s revenue was down 1.0% on a year-over-year basis. As a group, equities analysts predict that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Announces Dividend

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 paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Friday, September 13th. Public Storage’s dividend payout ratio is currently 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.