Andra AP fonden Has $27.82 Million Stake in Public Storage $PSA

Andra AP fonden raised its position in Public Storage (NYSE:PSA) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,800 shares of the real estate investment trust’s stock after acquiring an additional 200 shares during the quarter. Andra AP fonden owned approximately 0.05% of Public Storage worth $27,816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. TCW Group Inc. lifted its holdings in shares of Public Storage by 5.2% during the first quarter. TCW Group Inc. now owns 13,696 shares of the real estate investment trust’s stock worth $4,099,000 after buying an additional 676 shares in the last quarter. Jump Financial LLC bought a new stake in Public Storage during the first quarter worth $1,124,000. Vanguard Group Inc. increased its stake 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 purchasing an additional 143,575 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Public Storage by 3.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 103,972 shares of the real estate investment trust’s stock valued at $31,118,000 after purchasing an additional 2,990 shares in the last quarter. Finally, Meridian Wealth Management LLC lifted its stake in Public Storage by 181.2% in the 1st quarter. Meridian Wealth Management LLC now owns 3,712 shares of the real estate investment trust’s stock valued at $1,111,000 after purchasing an additional 2,392 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a report on Monday, October 13th. Scotiabank dropped their price objective on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. Wells Fargo & Company increased their target price on shares of Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. UBS Group reduced 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. Finally, Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $325.38.

Public Storage Stock Performance

NYSE PSA opened at $278.96 on Thursday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $48.94 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. The company has a 50-day simple moving average of $291.89 and a 200 day simple moving average of $292.73.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 35.67%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business posted $4.20 EPS. Public Storage’s quarterly 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. On average, research analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s dividend payout ratio is currently 124.61%.

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.