Bank Julius Baer & Co. Ltd Zurich Decreases Position in Public Storage $PSA

Bank Julius Baer & Co. Ltd Zurich lessened its stake in Public Storage (NYSE:PSA) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 263,288 shares of the real estate investment trust’s stock after selling 8,857 shares during the quarter. Public Storage makes up approximately 1.2% of Bank Julius Baer & Co. Ltd Zurich’s portfolio, making the stock its 25th biggest holding. Bank Julius Baer & Co. Ltd Zurich owned 0.15% of Public Storage worth $77,254,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Public Storage by 0.4% in the second quarter. Vanguard Group Inc. now owns 20,815,476 shares of the real estate investment trust’s stock worth $6,107,677,000 after buying an additional 79,580 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Public Storage by 1.0% during the 1st quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock worth $894,177,000 after acquiring an additional 30,775 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Public Storage by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust’s stock worth $848,425,000 after acquiring an additional 34,718 shares during the last quarter. Northern Trust Corp raised its stake in Public Storage by 2.8% in the 1st quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock valued at $762,135,000 after acquiring an additional 69,882 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Public Storage by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock valued at $638,805,000 after purchasing an additional 12,204 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PSA has been the subject of several recent research reports. Scotiabank reduced their target price on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 28th. Evercore ISI cut their price objective on shares of Public Storage from $317.00 to $315.00 and set an “in-line” rating for the company in a report on Monday, November 3rd. UBS Group reduced their price objective on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Barclays dropped their target price on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average price target of $325.38.

Public Storage Trading Down 0.3%

Public Storage stock opened at $265.45 on Friday. The stock has a market cap of $46.58 billion, a P/E ratio of 27.56, a PEG ratio of 4.72 and a beta of 0.91. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $355.87. The firm’s fifty day moving average price is $287.47 and its 200-day moving average price is $291.04. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.Public Storage’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $3.00 per share. The ex-dividend date is Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 4.5%. Public Storage’s payout ratio is presently 124.61%.

Public Storage 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.