Cibc World Market Inc. Sells 10,819 Shares of Public Storage $PSA

Cibc World Market Inc. trimmed its position in Public Storage (NYSE:PSA) by 12.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,133 shares of the real estate investment trust’s stock after selling 10,819 shares during the period. Cibc World Market Inc.’s holdings in Public Storage were worth $19,757,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PSA. Lido Advisors LLC increased its stake in shares of Public Storage by 2.9% in the 4th quarter. Lido Advisors LLC now owns 4,107 shares of the real estate investment trust’s stock worth $1,173,000 after acquiring an additional 117 shares in the last quarter. GKV Capital Management Co. Inc. bought a new stake in Public Storage during the fourth quarter worth about $247,000. CIBC Asset Management Inc grew its holdings in Public Storage by 4.2% in the fourth quarter. CIBC Asset Management Inc now owns 118,340 shares of the real estate investment trust’s stock worth $30,707,000 after purchasing an additional 4,730 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its holdings in Public Storage by 479.3% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 330,487 shares of the real estate investment trust’s stock worth $85,761,000 after purchasing an additional 273,436 shares during the period. Finally, New Mexico Educational Retirement Board increased its stake in shares of Public Storage by 2.8% during the fourth quarter. New Mexico Educational Retirement Board now owns 7,365 shares of the real estate investment trust’s stock valued at $1,911,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of analyst reports. Mizuho boosted their price target on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $341.00 price objective on shares of Public Storage in a research report on Wednesday, April 29th. BMO Capital Markets reissued a “market perform” rating on shares of Public Storage in a report on Monday, March 16th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Jefferies Financial Group raised their price target on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, Public Storage has a consensus rating of “Hold” and a consensus price target of $316.06.

Public Storage Price Performance

PSA opened at $309.98 on Friday. The company’s 50-day simple moving average is $298.08 and its two-hundred day simple moving average is $286.89. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $54.42 billion, a P/E ratio of 31.99, a P/E/G ratio of 4.18 and a beta of 0.98. Public Storage has a 52-week low of $256.54 and a 52-week high of $313.51.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, analysts predict that Public Storage will post 16.92 EPS for the current year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage’s payout ratio is 123.84%.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.