Vanguard Personalized Indexing Management LLC Acquires 2,973 Shares of Public Storage $PSA

Vanguard Personalized Indexing Management LLC lifted its holdings in Public Storage (NYSE:PSA) by 23.3% in the second quarter, HoldingsChannel reports. The fund owned 15,738 shares of the real estate investment trust’s stock after buying an additional 2,973 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Public Storage were worth $4,618,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Retirement Planning Co of New England Inc. lifted its holdings in shares of Public Storage by 1.6% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 33 shares during the last quarter. Shum Financial Group Inc. raised 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 buying an additional 35 shares during the last quarter. Whitener Capital Management Inc. raised its holdings in Public Storage by 2.3% during the 2nd quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock valued at $472,000 after buying an additional 36 shares during the last quarter. Mather Group LLC. raised its holdings in Public Storage by 4.6% during the 2nd quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 38 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised 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 buying an additional 39 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSA has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their price target on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. BMO Capital Markets lowered shares of Public Storage from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $340.00 to $325.00 in a report on Friday, June 20th. JPMorgan Chase & Co. lowered their price target on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Finally, Evercore ISI upped their price target on shares of Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $324.92.

Public Storage Stock Up 1.8%

Shares of NYSE PSA opened at $299.69 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 12 month low of $256.60 and a 12 month high of $355.87. The firm has a market capitalization of $52.58 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 4.88 and a beta of 0.89. The firm has a fifty day simple moving average of $288.00 and a two-hundred day simple moving average of $291.52.

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

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. Public Storage’s dividend 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.