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

Cibc World Market Inc. lowered its position in Public Storage (NYSE:PSA) by 12.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 76,133 shares of the real estate investment trust’s stock after selling 10,819 shares during the quarter. Cibc World Market Inc.’s holdings in Public Storage were worth $19,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Public Storage by 1.7% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 37 shares during the period. Doliver Advisors LP grew its holdings in Public Storage by 1.0% during the fourth quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust’s stock valued at $1,071,000 after purchasing an additional 39 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in Public Storage by 18.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 259 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 41 shares during the period. Hilltop Holdings Inc. grew its holdings in Public Storage by 4.7% during the third quarter. Hilltop Holdings Inc. now owns 906 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 41 shares during the period. Finally, Synovus Financial Corp grew its holdings in Public Storage by 1.1% during the third quarter. Synovus Financial Corp now owns 3,969 shares of the real estate investment trust’s stock valued at $1,147,000 after purchasing an additional 44 shares during the period. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

PSA has been the subject of several recent research reports. BNP Paribas Exane boosted their price target on Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Mizuho boosted their price target on Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Evercore set a $306.00 price target on Public Storage in a report on Monday, May 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a report on Tuesday, April 21st. Finally, Jefferies Financial Group boosted 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 analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $316.06.

Public Storage Price Performance

Shares of Public Storage stock opened at $309.98 on Friday. The stock’s 50-day simple moving average is $298.08 and its 200-day simple moving average is $286.89. Public Storage has a 52 week low of $256.54 and a 52 week high of $313.51. The company has a market capitalization of $54.42 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 4.18 and a beta of 0.98. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02.

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

Public Storage Dividend Announcement

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

Public Storage Company 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.