Compagnie Lombard Odier SCmA Purchases Shares of 138 Public Storage (NYSE:PSA)

Compagnie Lombard Odier SCmA acquired a new position in shares of Public Storage (NYSE:PSA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 138 shares of the real estate investment trust’s stock, valued at approximately $50,000.

Several other institutional investors have also recently modified their holdings of the stock. OFI Invest Asset Management purchased a new position in Public Storage during the second quarter worth $32,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage during the 2nd quarter worth about $36,000. Riverview Trust Co acquired a new position in Public Storage in the 1st quarter valued at about $37,000. Crewe Advisors LLC purchased a new position in Public Storage in the 1st quarter valued at about $39,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Public Storage during the 2nd quarter worth about $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Performance

Shares of PSA stock opened at $342.83 on Monday. The company’s fifty day simple moving average is $342.30 and its 200-day simple moving average is $303.29. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. Public Storage has a 52 week low of $233.18 and a 52 week high of $369.99. The company has a market cap of $60.00 billion, a PE ratio of 32.13, a P/E/G ratio of 4.82 and a beta of 0.68.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The company had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm earned $4.28 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Public Storage will post 16.73 EPS for the current year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Friday, September 13th. Public Storage’s dividend payout ratio (DPR) is 112.46%.

Analysts Set New Price Targets

PSA has been the topic of several recent analyst reports. Morgan Stanley upped their price objective on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Citigroup increased their price target on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Barclays upped their target price on Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Scotiabank raised their price target on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective for the company. in a research note on Monday, August 5th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $337.36.

Public Storage Company 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.