Public Storage $PSA Shares Purchased by Saturna Capital Corp

Saturna Capital Corp raised its position in Public Storage (NYSE:PSA) by 3.4% during the 2nd quarter, Holdings Channel reports. The firm owned 7,136 shares of the real estate investment trust’s stock after acquiring an additional 235 shares during the quarter. Saturna Capital Corp’s holdings in Public Storage were worth $2,094,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in shares of Public Storage in the 1st quarter worth about $271,196,000. Goldman Sachs Group Inc. increased its holdings in Public Storage by 68.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock valued at $348,670,000 after acquiring an additional 475,342 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Public Storage during the second quarter worth about $94,297,000. Vanguard Group Inc. raised its position in Public Storage by 0.7% during the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock worth $6,206,046,000 after acquiring an additional 143,575 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Public Storage by 9.8% in the first quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust’s stock valued at $462,774,000 after purchasing an additional 138,486 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Public Storage stock opened at $271.33 on Wednesday. The stock has a fifty day moving average price of $288.52 and a 200 day moving average price of $291.40. Public Storage has a 52 week low of $256.60 and a 52 week high of $355.87. The firm has a market capitalization of $47.61 billion, a P/E ratio of 28.18, a PEG ratio of 4.72 and a beta of 0.91. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04.

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 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 period last year, the business posted $4.20 EPS. The company’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. Equities research analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, December 15th. Public Storage’s payout ratio is presently 124.61%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. 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 research note on Friday, October 31st. Scotiabank dropped their price target on 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. Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price target for the company in a report on Monday, October 13th. Evercore ISI decreased their price objective on Public Storage from $317.00 to $315.00 and set an “in-line” rating on the stock in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.