Public Storage (NYSE:PSA) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in shares of Public Storage (NYSE:PSA) by 37.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,292 shares of the real estate investment trust’s stock after purchasing an additional 19,870 shares during the period. Mackenzie Financial Corp’s holdings in Public Storage were worth $21,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quent Capital LLC boosted its holdings in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Public Storage during the fourth quarter valued at $32,000. Synergy Asset Management LLC purchased a new stake in Public Storage in the 4th quarter worth about $38,000. Millstone Evans Group LLC purchased a new position in Public Storage during the 4th quarter valued at about $38,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of Public Storage in the fourth quarter worth approximately $38,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Performance

Shares of NYSE PSA opened at $296.74 on Tuesday. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market cap of $52.06 billion, a P/E ratio of 30.81, a P/E/G ratio of 4.91 and a beta of 0.91. The business’s 50 day moving average is $293.73 and its two-hundred day moving average is $304.06.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.06 by $0.06. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm posted $4.03 earnings per share. Public Storage’s revenue was up .1% compared to the same quarter last year. On average, equities analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage’s dividend payout ratio is currently 119.17%.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of research analyst reports. Barclays lowered their price objective on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Evercore ISI boosted their price target on shares of Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a report on Friday, May 2nd. Royal Bank of Canada cut their price objective on Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Bank of America boosted their target price on Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Scotiabank raised their price target on Public Storage from $305.00 to $340.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.42.

About Public Storage

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.