Aviva PLC Has $34.65 Million Holdings in Public Storage $PSA

Aviva PLC raised its holdings in Public Storage (NYSE:PSA) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,105 shares of the real estate investment trust’s stock after acquiring an additional 7,946 shares during the period. Aviva PLC owned about 0.07% of Public Storage worth $34,654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Public Storage by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock worth $6,206,046,000 after purchasing an additional 143,575 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Public Storage by 1.0% during the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock worth $894,177,000 after buying an additional 30,775 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Public Storage by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust’s stock worth $848,425,000 after buying an additional 34,718 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Public Storage by 2.8% in the 1st quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock valued at $762,135,000 after acquiring an additional 69,882 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Public Storage by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock valued at $638,805,000 after acquiring an additional 12,204 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

PSA stock opened at $278.00 on Monday. 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 company’s 50-day moving average is $291.20 and its 200-day moving average is $292.49. The stock has a market capitalization of $48.78 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91. Public Storage has a 1 year low of $256.60 and a 1 year high of $355.87.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. 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% on a year-over-year basis. During the same period in the prior year, the business earned $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities research analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors 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 yield of 4.3%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSA. UBS Group lowered their target price on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. Royal Bank Of Canada dropped their price objective on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a report on Friday, October 31st. Evercore ISI dropped their price target on shares of Public Storage from $317.00 to $315.00 and set an “in-line” rating for the company in a research note on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $325.38.

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.