Public Storage $PSA Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in Public Storage (NYSE:PSA) by 13.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,987 shares of the real estate investment trust’s stock after buying an additional 233 shares during the quarter. GAMMA Investing LLC’s holdings in Public Storage were worth $583,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. State of Wyoming raised its position in Public Storage by 28.6% in the fourth quarter. State of Wyoming now owns 256 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 57 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Public Storage in the 4th quarter valued at $1,062,000. Ameriflex Group Inc. acquired a new position in Public Storage during the 4th quarter worth about $30,000. Versant Capital Management Inc lifted its stake in Public Storage by 249.4% during the 1st quarter. Versant Capital Management Inc now owns 828 shares of the real estate investment trust’s stock worth $248,000 after acquiring an additional 591 shares in the last quarter. Finally, Tompkins Financial Corp boosted its holdings in Public Storage by 0.6% during the 1st quarter. Tompkins Financial Corp now owns 25,104 shares of the real estate investment trust’s stock valued at $7,513,000 after acquiring an additional 161 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on PSA shares. Wells Fargo & Company reduced their price target on shares of Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. BNP Paribas Exane initiated coverage on shares of Public Storage in a report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 target price on the stock. Scotiabank dropped their price target on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 28th. JPMorgan Chase & Co. reduced their price objective on Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Finally, BMO Capital Markets cut Public Storage from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $340.00 to $325.00 in a research note on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $322.00.

Public Storage Price Performance

Shares of NYSE:PSA opened at $280.43 on Friday. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The firm has a market capitalization of $49.20 billion, a P/E ratio of 30.58, a P/E/G ratio of 4.66 and a beta of 0.86. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The company’s fifty day moving average price is $286.42 and its 200 day moving average price is $291.93.

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

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $3.00 dividend. The ex-dividend date is Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.3%. Public Storage’s payout ratio is currently 130.86%.

Public Storage Profile

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.