Axa S.A. Grows Stock Holdings in Public Storage (NYSE:PSA)

Axa S.A. lifted its position in Public Storage (NYSE:PSA) by 17.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 28,288 shares of the real estate investment trust’s stock after buying an additional 4,280 shares during the quarter. Axa S.A.’s holdings in Public Storage were worth $8,471,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PSA. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Public Storage by 5.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock worth $16,089,000 after purchasing an additional 2,566 shares in the last quarter. Capital Investment Advisors LLC boosted its holdings in Public Storage by 25.4% in the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock worth $8,566,000 after acquiring an additional 5,793 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Public Storage by 30.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust’s stock worth $40,926,000 after acquiring an additional 31,662 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Public Storage during the fourth quarter valued at about $395,000. Finally, Aew Capital Management L P raised its position in shares of Public Storage by 108.6% in the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock valued at $131,574,000 after purchasing an additional 228,740 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the topic of several research analyst reports. Scotiabank raised shares of Public Storage from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the stock from $333.00 to $305.00 in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and upped their target price for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company lowered their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Mizuho began coverage on Public Storage in a report on Wednesday, April 9th. They issued a “neutral” rating and a $287.00 price objective on the stock. Finally, Barclays reaffirmed an “overweight” rating and set a $354.00 target price (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $333.75.

Public Storage Trading Up 0.0 %

Shares of NYSE:PSA opened at $300.26 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99. The business has a 50 day moving average of $294.65 and a two-hundred day moving average of $307.45. The company has a market capitalization of $52.67 billion, a PE ratio of 31.18, a PEG ratio of 4.91 and a beta of 0.76.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $4.06 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $4.03 EPS. As a group, analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.00%. Public Storage’s dividend payout ratio is currently 119.17%.

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.