National Bank of Canada FI Has $45.40 Million Stake in Public Storage (NYSE:PSA)

National Bank of Canada FI raised its holdings in Public Storage (NYSE:PSA) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,626 shares of the real estate investment trust’s stock after acquiring an additional 2,439 shares during the quarter. National Bank of Canada FI owned about 0.08% of Public Storage worth $45,404,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC raised its stake in Public Storage by 16.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust’s stock valued at $2,567,000 after purchasing an additional 1,349 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Public Storage by 8.0% during the third quarter. The Manufacturers Life Insurance Company now owns 123,852 shares of the real estate investment trust’s stock worth $32,638,000 after acquiring an additional 9,223 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Public Storage by 4.3% in the 4th quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock valued at $34,917,000 after purchasing an additional 4,695 shares in the last quarter. Ellsworth Advisors LLC grew its holdings in shares of Public Storage by 615.7% in the 4th quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust’s stock worth $6,040,000 after purchasing an additional 17,036 shares during the last quarter. Finally, 1834 Investment Advisors Co. increased its position in shares of Public Storage by 115.3% during the 4th quarter. 1834 Investment Advisors Co. now owns 16,952 shares of the real estate investment trust’s stock worth $5,170,000 after purchasing an additional 9,078 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Up 0.5 %

NYSE PSA traded up $1.39 during mid-day trading on Monday, reaching $267.15. 280,717 shares of the stock were exchanged, compared to its average volume of 727,099. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a 50 day simple moving average of $276.44 and a 200-day simple moving average of $276.00. Public Storage has a one year low of $233.18 and a one year high of $312.25. The stock has a market cap of $46.94 billion, a P/E ratio of 24.14, a P/E/G ratio of 3.49 and a beta of 0.57.

Public Storage (NYSE:PSA) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing the consensus estimate of $4.15 by ($1.94). Public Storage had a net margin of 45.62% and a return on equity of 36.17%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company earned $4.16 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts anticipate that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Tuesday, March 12th. Public Storage’s payout ratio is 108.99%.

Analyst Upgrades and Downgrades

PSA has been the topic of several research reports. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research report on Thursday, March 28th. BMO Capital Markets lifted their target price on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $280.00 to $310.00 in a report on Friday, April 5th. Scotiabank boosted their price objective on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a report on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Public Storage in a research note on Tuesday, January 30th. They set a “sell” rating and a $250.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $305.00.

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.