Public Storage (NYSE:PSA) Holdings Lifted by Whittier Trust Co.

Whittier Trust Co. increased its holdings in Public Storage (NYSE:PSA) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,868 shares of the real estate investment trust’s stock after acquiring an additional 79 shares during the period. Whittier Trust Co.’s holdings in Public Storage were worth $680,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. increased its holdings in shares of Public Storage by 86.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 645,168 shares of the real estate investment trust’s stock valued at $187,137,000 after purchasing an additional 299,826 shares during the period. Canada Pension Plan Investment Board increased its stake in Public Storage by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust’s stock valued at $319,270,000 after buying an additional 281,800 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Public Storage by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock worth $1,575,794,000 after buying an additional 219,391 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Public Storage by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after buying an additional 217,487 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Public Storage by 116.7% during the 2nd quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock valued at $111,077,000 after acquiring an additional 208,546 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on PSA shares. Royal Bank of Canada began coverage on Public Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 price objective for the company. Scotiabank lifted their price target on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Barclays boosted their price target on Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Morgan Stanley raised their price objective on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.93.

Public Storage Trading Up 1.4 %

Shares of Public Storage stock opened at $339.77 on Thursday. The company’s fifty day moving average price is $346.82 and its two-hundred day moving average price is $306.35. The firm has a market capitalization of $59.71 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 4.87 and a beta of 0.68. Public Storage has a 52-week low of $233.18 and a 52-week high of $369.99. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($1.54). The business had revenue of $921.70 million during the quarter, compared to analyst estimates of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the company earned $4.28 EPS. On average, analysts expect that Public Storage will post 16.73 EPS for the current year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Friday, September 13th. Public Storage’s dividend payout ratio is 108.99%.

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.