Knights of Columbus Asset Advisors LLC Decreases Stock Position in Public Storage $PSA

Knights of Columbus Asset Advisors LLC cut its holdings in shares of Public Storage (NYSE:PSA) by 5.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,948 shares of the real estate investment trust’s stock after selling 936 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Public Storage were worth $5,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Public Storage by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock valued at $6,206,046,000 after buying an additional 143,575 shares in the last quarter. Wellington Management Group LLP raised its holdings in Public Storage by 1.0% during the 1st quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock valued at $894,177,000 after acquiring an additional 30,775 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Public Storage by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust’s stock worth $848,425,000 after acquiring an additional 34,718 shares in the last quarter. Northern Trust Corp lifted its position in shares of Public Storage by 2.8% during the first quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock worth $762,135,000 after acquiring an additional 69,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Public Storage by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock worth $638,805,000 after acquiring an additional 12,204 shares during the period. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a research report on Saturday, September 27th. BNP Paribas raised shares of Public Storage to a “strong-buy” rating in a report on Tuesday, June 24th. Scotiabank cut 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 report on Thursday, August 28th. Royal Bank Of Canada lowered their price objective on Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research report on Friday, August 1st. Finally, Wall Street Zen cut Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $322.92.

Public Storage Stock Performance

NYSE:PSA opened at $293.74 on Monday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $355.87. The firm has a market cap of $51.54 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 4.87 and a beta of 0.89. The business has a 50 day moving average price of $286.68 and a 200-day moving average price of $291.43.

Public Storage (NYSE:PSA) last posted its quarterly 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. 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 analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $4.23 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. 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 year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $3.00 dividend. The ex-dividend date was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. Public Storage’s dividend payout ratio is 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.