Public Storage $PSA Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Public Storage (NYSE:PSA) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,337 shares of the real estate investment trust’s stock after acquiring an additional 8,480 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.13% of Public Storage worth $66,846,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC lifted its position in Public Storage by 2.2% during the first quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 34 shares in the last quarter. Nilsine Partners LLC boosted its stake in Public Storage by 2.9% during the second quarter. Nilsine Partners LLC now owns 1,211 shares of the real estate investment trust’s stock worth $385,000 after buying an additional 34 shares during the last quarter. Aegis Wealth Management Inc. boosted its stake in Public Storage by 2.5% during the third quarter. Aegis Wealth Management Inc. now owns 1,375 shares of the real estate investment trust’s stock worth $389,000 after buying an additional 34 shares during the last quarter. Gryphon Financial Partners LLC grew its holdings in Public Storage by 2.6% in the 1st quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock valued at $385,000 after buying an additional 36 shares in the last quarter. Finally, Chesapeake Capital Corp IL grew its holdings in Public Storage by 1.3% in the 2nd quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock valued at $953,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 11.10% of the company’s stock.

Public Storage Stock Up 2.5%

Shares of PSA opened at $324.95 on Friday. The company’s 50-day moving average price is $298.85 and its 200 day moving average price is $302.79. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The company has a current ratio of 1.00, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The firm has a market cap of $60.71 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 4.73 and a beta of 0.94.

Public Storage (NYSE:PSA) last announced its earnings results on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share for the quarter, missing the consensus estimate of $2.49 by ($0.80). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Public Storage had a return on equity of 29.93% and a net margin of 37.76%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the business earned $4.31 EPS. On average, sell-side analysts forecast that Public Storage will post 16.95 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. Public Storage’s dividend payout ratio (DPR) is presently 125.65%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Evercore set a $308.00 price target on shares of Public Storage in a research note on Monday, September 21st. Scotiabank reduced their price target on shares of Public Storage from $346.00 to $343.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, September 2nd. Truist Financial initiated coverage on shares of Public Storage in a research report on Friday, October 2nd. They set a “buy” rating and a $317.00 price target on the stock. Mizuho upped their price objective on Public Storage from $316.00 to $319.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Finally, Royal Bank Of Canada increased their price objective on Public Storage from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $323.68.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.