Public Storage $PSA Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in Public Storage (NYSE:PSA) by 0.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,815,476 shares of the real estate investment trust’s stock after buying an additional 79,580 shares during the period. Vanguard Group Inc. owned 11.87% of Public Storage worth $6,107,677,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSA. Dorsey & Whitney Trust CO LLC grew its stake in Public Storage by 13.6% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 1,316 shares of the real estate investment trust’s stock valued at $386,000 after acquiring an additional 158 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Public Storage by 3.2% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 276,051 shares of the real estate investment trust’s stock worth $80,999,000 after purchasing an additional 8,687 shares during the last quarter. Midwest Professional Planners LTD. boosted its holdings in shares of Public Storage by 2.8% during the 2nd quarter. Midwest Professional Planners LTD. now owns 7,138 shares of the real estate investment trust’s stock worth $2,094,000 after purchasing an additional 195 shares during the last quarter. Symphony Financial Ltd. Co. purchased a new stake in shares of Public Storage in the second quarter valued at approximately $27,915,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Public Storage by 4.3% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 329,979 shares of the real estate investment trust’s stock valued at $96,822,000 after purchasing an additional 13,535 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

NYSE:PSA opened at $271.33 on Wednesday. Public Storage has a 52 week low of $256.60 and a 52 week high of $355.87. The stock’s fifty day moving average is $288.52 and its two-hundred day moving average is $291.40. The company has a market capitalization of $47.61 billion, a P/E ratio of 28.18, a P/E/G ratio of 4.72 and a beta of 0.91. 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, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, topping 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%.The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $3.00 per share. The ex-dividend date is Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.4%. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore ISI reduced their price objective on Public Storage from $317.00 to $315.00 and set an “in-line” rating on the stock in a research report on Monday, November 3rd. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. JPMorgan Chase & Co. reduced their price target on Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Barclays dropped their price objective on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Finally, Scotiabank cut their price objective on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.38.

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.