The company's most recent 13F filing to the Securities and Exchange Commission shows that the stock of the real estate investment trust increased by 26.6% during the first quarter. The company owned 290 of the stock of the real estate trust after selling 105 during the period. Bank of New Hampshire held Public Storage stock worth $88,000 according to its latest SEC filing.
Recent sales and purchases of shares by other large investors are also noteworthy. ICW Investment Advisors LLC has increased its shares of Public Storage in the fourth quarter by 1.1%. ICW Investment Advisors LLC owns now 3,272 of the real estate trust's stock valued at $917,000, after purchasing 34 additional shares during the period. Spectrum Asset Management Inc. NB CA grew its holdings of Public Storage shares by 0.8% during the fourth quarter. Spectrum Asset Management Inc. NB CA owns 4,250 of the real estate trust's shares worth $1,191,000. This is after buying 35 additional shares. Gyroscope Capital Management Group LLC grew its holdings of Public Storage shares by 2.2% during the fourth quarter. Gyroscope Capital Management Group LLC owns now 1,649 of the real estate trust's shares worth $462,000. This is after buying an additional 35 during the period. Arbor Capital Management Inc. ADV grew its holdings of Public Storage shares by 0.9% during the fourth quarter. Arbor Capital Management Inc. ADV owns 4,159 of the real estate trust's shares worth $1,129,000. This is after buying 36 additional shares. Kinneret Advisory LLC also increased its shares of Public Storage in the first quarter by 2.3%. Kinneret Advisory LLC owns 1,678 of the stock of the real estate trust, worth $655,000. This is after buying an additional 37 shares. The opening price on Friday was $287.10. The company has a 50-day moving average of 290.65, and a 200-day moving average is $292.66. The debt-to equity ratio for the company is 1.19. It also has a quick ratio and current ratios of 1.48. Public Storage's 52-week low is $270.13, and its 52-week highest is $357.13. The firm has a market capitalization of $50.48 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45.
Dividend announced by Public Storage
A quarterly dividend was also declared by the firm, and will be paid out on Thursday 29th June. Dividends of $3.00 will be paid to shareholders who were in the books on June 14th. This dividend will be paid on Tuesday, June 13. This dividend represents a $12.00 yield and an annualized dividend of $12.00. Public Storage has a payout ratio of 51.04%.
Analyst Upgrades and downgrades
Recent research has been conducted by several analysts. Bank of America began covering shares of Public Storage on Monday, 8th May. In a report published on Thursday 18th May, Investopedia assumed coverage of shares of Public Storage. They gave the stock a rating of 'hold.' In a report published on Tuesday, JPMorgan Chase & Co. reduced their price target for shares of Public Storage. It went from $338.00 down to $324.00. Truist Financial reduced their price target on Public Storage shares from $335.00 down to $320.00 on Thursday in a report. Five analysts gave the stock a hold rating, while three others have given the company a buy rating. According to data from MarketBeat.com the company currently has a consensus of 'Hold,' with an average price target of $341.44.
Public Storage is a member of both the S&P 500 as well as the FT Global 500. It is a REIT which primarily owns and operates self storage facilities. We had the following at December 31, 2022: (i), interests in 2,869 facilities in 40 states, with approximately 204 millions net rentable feet in the United States; (ii), a 35% equity stake in Shurgard Self Storage Limited. (Euronext Brussels :SHUR), with 266 facilities in seven Western European countries with approximately 15,000,000 net rentable feet under the Shurgard name.
MarketBeat.com offers a FREE daily email newsletter