United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes $910,000 Position in Public Storage $PSA

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of Public Storage (NYSE:PSA) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,100 shares of the real estate investment trust’s stock, valued at approximately $910,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. Nuveen LLC acquired a new stake in shares of Public Storage during the 1st quarter worth about $271,196,000. Goldman Sachs Group Inc. boosted its position in Public Storage by 68.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock worth $348,670,000 after acquiring an additional 475,342 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Public Storage in the 2nd quarter worth approximately $94,297,000. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 143,575 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in 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 acquiring an additional 138,486 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Performance

Public Storage stock opened at $274.59 on Thursday. The company has a market cap of $48.18 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91. Public Storage has a 12 month low of $256.60 and a 12 month high of $355.87. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The stock’s 50-day moving average is $286.21 and its 200-day moving average is $290.16.

Public Storage (NYSE:PSA) last issued its earnings results 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 revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given 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 4.4%. Public Storage’s dividend payout ratio is presently 124.61%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada decreased their price objective on Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. Wells Fargo & Company raised their price target on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Raymond James Financial lowered their price target on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 18th. Truist Financial cut their price objective on shares of Public Storage from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Evercore ISI lowered their target price on shares of Public Storage from $317.00 to $315.00 and set an “in-line” rating for the company in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $325.57.

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.