Bokf Na Sells 3,936 Shares of Public Storage (NYSE:PSA)

Bokf Na lowered its position in Public Storage (NYSE:PSA) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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.

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

Analyst Ratings Changes

A number of analysts have commented on the company. Scotiabank upped their price target 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. Barclays increased their target price on shares of Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target on the stock. in a report on Monday, August 5th. Citigroup increased their price objective on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Evercore ISI lifted their target price on shares of Public Storage from $330.00 to $334.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $326.21.

Public Storage Stock Performance

Public Storage stock opened at $359.12 on Friday. Public Storage has a twelve month low of $233.18 and a twelve month high of $361.23. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72. The company’s 50-day moving average price is $318.81 and its 200-day moving average price is $292.36. The company has a market cap of $62.85 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 5.07 and a beta of 0.67.

Public Storage (NYSE:PSA) last issued 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 return on equity of 36.55% and a net margin of 44.88%. The business had revenue of $921.70 million during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company posted $4.28 earnings per share. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Public Storage will post 16.73 EPS 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 given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $12.00 annualized dividend and a yield of 3.34%. Public Storage’s dividend payout ratio (DPR) is presently 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.