Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 2,425 Shares of Public Storage $PSA

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Public Storage (NYSE:PSA) by 2.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 89,894 shares of the real estate investment trust’s stock after buying an additional 2,425 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Public Storage were worth $26,377,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Storage during the second quarter valued at approximately $25,000. Harbor Asset Planning Inc. purchased a new position in Public Storage in the 2nd quarter worth approximately $25,000. Spectrum Wealth Counsel LLC bought a new position in Public Storage in the 1st quarter valued at approximately $30,000. NewSquare Capital LLC boosted its stake in Public Storage by 60.6% during the 2nd quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 40 shares during the last quarter. Finally, Winch Advisory Services LLC boosted its stake in Public Storage by 39.8% during the 1st quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

PSA has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. Wells Fargo & Company lifted their price objective on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Evercore ISI decreased their target price on Public Storage from $317.00 to $315.00 and set an “in-line” rating for the company in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a research note on Monday, October 13th. Finally, Barclays reduced their price target on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. One 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 company’s stock. According to MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $325.38.

Public Storage Stock Down 0.0%

PSA stock opened at $274.22 on Friday. The company has a market cap of $48.12 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 4.72 and a beta of 0.91. 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 business’s 50-day moving average is $289.39 and its two-hundred day moving average is $291.87. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $355.87.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.During the same quarter in the prior year, the company posted $4.20 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.4%. 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.