Public Storage (NYSE:PSA) Shares Purchased by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd raised its position in Public Storage (NYSE:PSAGet Rating) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,243 shares of the real estate investment trust’s stock after acquiring an additional 90 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Public Storage were worth $10,242,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PSA. EverSource Wealth Advisors LLC acquired a new position in Public Storage in the 4th quarter valued at about $25,000. Mystic Asset Management Inc. acquired a new position in Public Storage in the 4th quarter valued at about $26,000. Lee Financial Co acquired a new position in Public Storage in the 4th quarter valued at about $27,000. Investors Research Corp grew its position in Public Storage by 102.5% in the 1st quarter. Investors Research Corp now owns 81 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC grew its position in Public Storage by 119.0% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 92 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 50 shares in the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on PSA. Morgan Stanley dropped their target price on Public Storage from $357.00 to $298.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 25th. StockNews.com downgraded Public Storage from a “buy” rating to a “hold” rating in a research report on Friday, June 10th. The Goldman Sachs Group boosted their price objective on Public Storage from $398.00 to $440.00 and gave the stock a “neutral” rating in a research report on Thursday, April 14th. UBS Group lowered their price objective on Public Storage from $390.00 to $336.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Jefferies Financial Group lowered their price objective on Public Storage from $465.00 to $369.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.83.

Public Storage Stock Up 2.1 %

PSA stock traded up $7.01 during trading on Thursday, hitting $333.29. 9,249 shares of the company’s stock were exchanged, compared to its average volume of 737,508. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 1.39. Public Storage has a 52-week low of $292.32 and a 52-week high of $421.76. The business has a 50-day moving average price of $315.61 and a two-hundred day moving average price of $349.09. The stock has a market capitalization of $58.48 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 2.95 and a beta of 0.31.

Public Storage (NYSE:PSAGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.96). Public Storage had a net margin of 54.79% and a return on equity of 38.01%. The firm had revenue of $749.27 million during the quarter, compared to analysts’ expectations of $985.58 million. During the same quarter in the prior year, the firm posted $2.82 EPS. Public Storage’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities research analysts expect that Public Storage will post 15.54 EPS for the current year.

Public Storage Increases Dividend

The business also recently announced a None dividend, which will be paid on Thursday, August 4th. Stockholders of record on Monday, August 1st will be issued a $13.15 dividend. The ex-dividend date of this dividend is Friday, July 29th. This is a positive change from Public Storage’s previous None dividend of $2.00. Public Storage’s payout ratio is presently 77.75%.

Public Storage Profile

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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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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