Strs Ohio Sells 1,630 Shares of Public Storage $PSA

Strs Ohio lowered its position in Public Storage (NYSE:PSA) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 115,907 shares of the real estate investment trust’s stock after selling 1,630 shares during the period. Strs Ohio’s holdings in Public Storage were worth $34,009,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA bought a new position in Public Storage during the 2nd quarter valued at approximately $25,000. Harbor Asset Planning Inc. purchased a new position in Public Storage during the second quarter valued at $25,000. Spectrum Wealth Counsel LLC purchased a new position in Public Storage during the first quarter valued at $30,000. Wayfinding Financial LLC purchased a new position in Public Storage during the first quarter valued at $41,000. Finally, Rossby Financial LCC purchased a new position in Public Storage during the first quarter valued at $45,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 3.0%

Public Storage stock opened at $280.62 on Friday. 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 cap of $49.24 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 4.72 and a beta of 0.89. The stock has a fifty day simple moving average of $292.95 and a two-hundred day simple moving average of $293.11.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping the consensus estimate of $4.24 by $0.07. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the company posted $4.20 earnings per share. Public Storage’s revenue was down 5.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PSA. Scotiabank lowered their price objective on 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. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a research note on Monday, October 13th. UBS Group lowered their price objective on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. Evercore ISI lifted their price objective on Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a research note on Friday, October 3rd. Finally, Royal Bank Of Canada reduced their target price on Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. One research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $325.69.

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.