2 weeks Ago By Defense World Staff
Liberty Mutual Group Asset Management Inc. trimmed its position in shares of Public Storage ( NYSE:PSA – Free Report ) by 83.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission.
The institutional investor owned 1,481 shares of the real estate investment trust’s stock after selling 7,712 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Public Storage were worth $426,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. MBB Public Markets I LLC purchased a new position in shares of Public Storage during the second quarter worth approximately $3,296,000. APG Asset Management US Inc.
raised its position in Public Storage by 4.8% in the 2nd quarter. APG Asset Management US Inc.
now owns 2,202,117 shares of the real estate investment trust’s stock worth $623,485,000 after purchasing an additional 100,000 shares during the period. AQR Capital Management LLC lifted its stake in Public Storage by 116.7% in the second quarter.
AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock worth $111,077,000 after purchasing an additional 208,546 shares during the last quarter. Abich Financial Wealth Management LLC boosted its position in Public Storage by 37.8% during the second quarter.
Abich Financial Wealth Management LLC now owns 594 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 163 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Public Storage by 60.3% during the second quarter.
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,283 shares of the real estate investment trust’s stock valued at $8,711,000 after buying an additional 11,389 shares during the period. Institutional investors own 78.79% of the company’s stock.
Analyst Ratings Changes A number of equities research analysts have recently weighed in on the company. Scotiabank boosted their target price on Public Storage from $308.00 to $339.
00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Truist Financial lowered Public Storage from a “buy” rating to a “hold” rating and set a $306.
00 price objective for the company. in a research note on Thursday, August 1st. Royal Bank of Canada assumed coverage on shares of Public Storage in a research note on Tuesday, September 10th.
They issued a “sector perform” rating and a $358.00 target price on the stock. Finally, Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.
00 price target for the company. in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock.
Based on data from MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average target price of $339.08.
Public Storage Price Performance Shares of NYSE PSA opened at $356.52 on Friday. Public Storage has a 1 year low of $233.
18 and a 1 year high of $366.80. The stock has a market capitalization of $62.
65 billion, a P/E ratio of 32.38, a P/E/G ratio of 5.14 and a beta of 0.
67. The company’s 50-day moving average is $331.35 and its 200 day moving average is $297.
72. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.
93 and a quick ratio of 0.93. Public Storage ( NYSE:PSA – Get Free Report ) last posted its earnings results on Tuesday, July 30th.
The real estate investment trust reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.
54). Public Storage had a return on equity of 36.55% and a net margin of 44.
88%. The firm had revenue of $921.70 million for the quarter, compared to analysts’ expectations of $1.
16 billion. During the same quarter last year, the company posted $4.28 EPS.
The firm’s revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts expect that Public Storage will post 16.
75 earnings per share for the current year. Public Storage Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $3.
00 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $12.
00 dividend on an annualized basis and a yield of 3.37%. Public Storage’s dividend payout ratio (DPR) is 108.
99%. Public Storage Profile ( Free Report ) 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.
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