Swedbank AB Raises Holdings in Public Storage $PSA

Swedbank AB boosted its stake in shares of Public Storage (NYSE:PSA) by 6.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,349 shares of the real estate investment trust’s stock after acquiring an additional 10,209 shares during the quarter. Swedbank AB owned 0.10% of Public Storage worth $50,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Retirement Planning Co of New England Inc. boosted its holdings in Public Storage by 1.6% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock valued at $624,000 after acquiring an additional 33 shares during the period. Shum Financial Group Inc. boosted its holdings in Public Storage by 1.7% during the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust’s stock valued at $625,000 after acquiring an additional 35 shares during the period. Meeder Advisory Services Inc. boosted its holdings in Public Storage by 1.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust’s stock valued at $1,072,000 after acquiring an additional 39 shares during the period. Meeder Asset Management Inc. boosted its holdings in Public Storage by 3.1% during the 1st quarter. Meeder Asset Management Inc. now owns 1,295 shares of the real estate investment trust’s stock valued at $388,000 after acquiring an additional 39 shares during the period. Finally, ICW Investment Advisors LLC lifted its holdings in Public Storage by 1.0% in the 1st quarter. ICW Investment Advisors LLC now owns 3,901 shares of the real estate investment trust’s stock worth $1,168,000 after buying an additional 39 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on PSA shares. BMO Capital Markets cut Public Storage from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $340.00 to $325.00 in a report on Friday, June 20th. Scotiabank dropped their price objective on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a report on Thursday, August 28th. BNP Paribas upgraded Public Storage to a “strong-buy” rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. dropped their price objective on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Finally, BNP Paribas Exane started coverage on Public Storage in a report on Tuesday, June 24th. They issued an “outperform” rating and a $331.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $322.00.

Public Storage Trading Down 0.1%

PSA opened at $283.92 on Friday. The stock has a market cap of $49.81 billion, a PE ratio of 30.96, a PEG ratio of 4.72 and a beta of 0.86. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The business has a 50 day moving average of $286.98 and a 200-day moving average of $292.97. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities research analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, September 15th. Public Storage’s dividend payout ratio (DPR) is presently 130.86%.

About Public Storage

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.