Oregon Public Employees Retirement Fund Has $17.28 Million Position in Public Storage (NYSE:PSA)

Oregon Public Employees Retirement Fund raised its stake in Public Storage (NYSE:PSA) by 3.3% in the first quarter, Holdings Channel reports. The firm owned 70,015 shares of the real estate investment trust’s stock after acquiring an additional 2,216 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Public Storage were worth $17,277,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in Public Storage by 7.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,981 shares of the real estate investment trust’s stock worth $489,000 after buying an additional 139 shares during the last quarter. Eagle Ridge Investment Management boosted its position in Public Storage by 3.3% during the first quarter. Eagle Ridge Investment Management now owns 48,592 shares of the real estate investment trust’s stock worth $11,991,000 after purchasing an additional 1,536 shares during the period. IFG Advisory LLC boosted its holdings in shares of Public Storage by 7.1% during the 1st quarter. IFG Advisory LLC now owns 1,393 shares of the real estate investment trust’s stock worth $343,000 after buying an additional 92 shares during the period. Morris Capital Advisors LLC increased its stake in shares of Public Storage by 11.0% during the first quarter. Morris Capital Advisors LLC now owns 2,162 shares of the real estate investment trust’s stock worth $533,000 after purchasing an additional 215 shares during the period. Finally, CX Institutional grew its stake in Public Storage by 24.5% during the first quarter. CX Institutional now owns 259 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 51 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Several analysts have recently commented on PSA shares. BMO Capital Markets raised Public Storage from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $220.00 to $240.00 in a research note on Thursday, January 28th. Raymond James raised Public Storage from an “underperform” rating to a “market perform” rating in a research report on Thursday, February 4th. Truist raised their price objective on shares of Public Storage from $262.00 to $269.00 in a report on Tuesday, April 13th. Morgan Stanley raised their target price on Public Storage from $221.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 18th. Finally, Truist Securities increased their price target on Public Storage from $262.00 to $269.00 in a research note on Wednesday, April 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $229.63.

Shares of NYSE PSA opened at $276.53 on Friday. The stock has a market cap of $48.37 billion, a price-to-earnings ratio of 42.67, a P/E/G ratio of 7.00 and a beta of 0.07. The stock’s 50-day moving average is $248.89 and its 200 day moving average is $233.88. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.52. Public Storage has a 1-year low of $172.11 and a 1-year high of $276.99.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, February 24th. The real estate investment trust reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.27). Public Storage had a return on equity of 26.59% and a net margin of 43.37%. During the same quarter in the previous year, the firm posted $1.87 earnings per share. On average, analysts forecast that Public Storage will post 10.46 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Tuesday, March 16th were given a $2.00 dividend. The ex-dividend date was Monday, March 15th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.89%. Public Storage’s dividend payout ratio is currently 74.42%.

About Public Storage

Public Storage operates as a real estate investment trust. The firm engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, Investment in PS Business Parks and Investment in Shurgard. The Self-storage Operations segment reflects the rental operations from all self-storage facilities.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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