Cullen Frost Bankers Inc. Purchases 5,042 Shares of Public Storage $PSA

Cullen Frost Bankers Inc. boosted its stake in shares of Public Storage (NYSE:PSA) by 14.5% during the 4th quarter, HoldingsChannel reports. The fund owned 39,907 shares of the real estate investment trust’s stock after purchasing an additional 5,042 shares during the period. Cullen Frost Bankers Inc.’s holdings in Public Storage were worth $10,356,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. National Pension Service increased its stake in Public Storage by 4.2% during the third quarter. National Pension Service now owns 255,300 shares of the real estate investment trust’s stock worth $73,743,000 after acquiring an additional 10,345 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in Public Storage by 57.5% during the third quarter. J.W. Cole Advisors Inc. now owns 4,974 shares of the real estate investment trust’s stock worth $1,437,000 after acquiring an additional 1,816 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in Public Storage by 14,992.3% during the third quarter. Cornerstone Planning Group LLC now owns 11,772 shares of the real estate investment trust’s stock worth $3,400,000 after acquiring an additional 11,694 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Public Storage by 19.9% during the third quarter. Jones Financial Companies Lllp now owns 41,094 shares of the real estate investment trust’s stock worth $11,766,000 after acquiring an additional 6,814 shares during the last quarter. Finally, Barclays PLC increased its stake in Public Storage by 93.8% during the third quarter. Barclays PLC now owns 602,959 shares of the real estate investment trust’s stock worth $174,165,000 after acquiring an additional 291,895 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Up 1.8%

Shares of NYSE PSA opened at $302.83 on Thursday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $53.16 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 4.06 and a beta of 1.00. The stock has a 50 day moving average price of $293.10 and a 200 day moving average price of $284.56. Public Storage has a 52-week low of $256.54 and a 52-week high of $313.51.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.Public Storage’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Sell-side analysts expect that Public Storage will post 16.89 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage’s dividend payout ratio (DPR) is 123.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Royal Bank Of Canada upped their target price on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Public Storage in a research note on Monday, March 16th. Wolfe Research cut Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Finally, Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 target price on the stock. in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $313.22.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.