Public Storage $PSA Stock Position Lifted by Ethic Inc.

Ethic Inc. grew its position in shares of Public Storage (NYSE:PSA) by 10.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 15,329 shares of the real estate investment trust’s stock after buying an additional 1,448 shares during the quarter. Ethic Inc.’s holdings in Public Storage were worth $4,443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Public Storage in the 1st quarter valued at about $271,196,000. Goldman Sachs Group Inc. boosted its holdings in shares of Public Storage by 68.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock valued at $348,670,000 after buying an additional 475,342 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Public Storage in the 2nd quarter valued at about $94,297,000. Vanguard Group Inc. boosted its holdings in shares of Public Storage by 0.7% in 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 during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Public Storage by 9.8% in the 1st quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust’s stock valued at $462,774,000 after buying an additional 138,486 shares during the period. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PSA. Scotiabank decreased 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. JPMorgan Chase & Co. decreased 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. Wells Fargo & Company decreased their price target on shares of Public Storage from $330.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. UBS Group decreased their price target on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $324.92.

Public Storage Trading Down 1.5%

Shares of NYSE:PSA opened at $306.34 on Friday. The company has a market cap of $53.75 billion, a PE ratio of 33.41, a P/E/G ratio of 5.07 and a beta of 0.89. The company’s 50-day moving average price is $292.02 and its 200 day moving average price is $292.36. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $355.87. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04.

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

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s dividend payout ratio is currently 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.