2,093 Public Storage $PSA Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its stake in shares of Public Storage (NYSE:PSA) by 2.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,064 shares of the real estate investment trust’s stock after acquiring an additional 2,093 shares during the period. Pictet Asset Management Holding SA’s holdings in Public Storage were worth $22,645,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hsbc Holdings PLC acquired a new stake in shares of Public Storage in the 2nd quarter valued at approximately $195,808,000. Nykredit A S bought a new stake in Public Storage in the 2nd quarter valued at $17,378,000. PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in shares of Public Storage by 15.6% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 26,610 shares of the real estate investment trust’s stock worth $8,470,000 after buying an additional 3,588 shares during the last quarter. Greenland Capital Management LP lifted its position in Public Storage by 300.0% during the second quarter. Greenland Capital Management LP now owns 6,600 shares of the real estate investment trust’s stock worth $2,101,000 after acquiring an additional 4,950 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Public Storage during the 2nd quarter worth approximately $72,529,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 0.2%

Shares of PSA stock opened at $335.38 on Thursday. The stock’s fifty day moving average price is $302.31 and its two-hundred day moving average price is $304.77. The company has a market cap of $62.66 billion, a PE ratio of 35.12, a P/E/G ratio of 4.97 and a beta of 0.89. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $345.89. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.00.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). Public Storage had a return on equity of 29.93% and a net margin of 37.76%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm posted $4.31 EPS. Public Storage’s quarterly revenue was up .5% on a year-over-year basis. Equities analysts predict that Public Storage will post 16.97 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Tuesday, December 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $12.00 annualized dividend and a yield of 3.6%. Public Storage’s dividend payout ratio (DPR) is 125.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Raymond James Financial assumed coverage on Public Storage in a research note on Thursday, July 16th. They issued a “market perform” rating for the company. Truist Financial began coverage on Public Storage in a report on Friday, October 2nd. They issued a “buy” rating and a $317.00 price objective for the company. Evercore set a $308.00 price objective on Public Storage in a report on Monday, September 21st. Royal Bank Of Canada upped their target price on Public Storage from $318.00 to $323.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 28th. Finally, Weiss Ratings lowered Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $325.79.

About Public Storage

Public Storage is a real estate investment trust that owns and operates self-storage facilities. Its properties offer individuals and businesses rental storage units in a range of sizes for household goods, business inventory, and other belongings. The company also provides related services, including storage protection plans. Founded in 1972, Public Storage has grown into a major self-storage provider in the United States, with facilities serving customers across the country. Its business also has a connection to Europe through its investment in Shurgard Self Storage, which operates self-storage properties in several European markets.