GAM Holding AG Grows Position in Public Storage (NYSE:PSA)

GAM Holding AG boosted its stake in Public Storage (NYSE:PSA) by 0.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,074 shares of the real estate investment trust’s stock after purchasing an additional 135 shares during the quarter. GAM Holding AG’s holdings in Public Storage were worth $12,034,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new stake in Public Storage during the second quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage during the second quarter worth approximately $36,000. Riverview Trust Co purchased a new stake in Public Storage during the first quarter worth approximately $37,000. Crewe Advisors LLC purchased a new stake in Public Storage during the first quarter worth approximately $39,000. Finally, EdgeRock Capital LLC purchased a new stake in Public Storage during the second quarter worth approximately $39,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays boosted their target price on shares of Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Scotiabank boosted their target price on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Morgan Stanley boosted their target price on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada assumed coverage on shares of Public Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 target price on the stock. Finally, Jefferies Financial Group boosted their target price on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $340.93.

Public Storage Stock Up 0.9 %

Public Storage stock opened at $334.98 on Wednesday. The company has a 50-day simple moving average of $346.44 and a 200-day simple moving average of $306.11. The firm has a market capitalization of $58.63 billion, a P/E ratio of 31.39, a P/E/G ratio of 4.87 and a beta of 0.68. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.93 and a current ratio of 0.93. Public Storage has a one year low of $233.18 and a one year high of $369.99.

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

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.58%. Public Storage’s dividend payout ratio is presently 112.46%.

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.