Conning Inc. Buys 52 Shares of Public Storage $PSA

Conning Inc. increased its stake in Public Storage (NYSE:PSA) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,830 shares of the real estate investment trust’s stock after buying an additional 52 shares during the quarter. Conning Inc.’s holdings in Public Storage were worth $830,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Retirement Planning Co of New England Inc. lifted its stake in Public Storage by 1.6% in the first quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock worth $624,000 after purchasing an additional 33 shares during the last quarter. Shum Financial Group Inc. lifted its stake in shares of Public Storage by 1.7% during the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust’s stock worth $625,000 after acquiring an additional 35 shares during the last quarter. Whitener Capital Management Inc. lifted its stake in shares of Public Storage by 2.3% during the 2nd quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock worth $472,000 after acquiring an additional 36 shares during the last quarter. Mather Group LLC. lifted its stake in shares of Public Storage by 4.6% during the 2nd quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust’s stock worth $253,000 after acquiring an additional 38 shares during the last quarter. Finally, Meeder Advisory Services Inc. lifted its stake in shares of Public Storage by 1.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust’s stock worth $1,072,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 0.1%

PSA opened at $294.19 on Friday. The firm has a market cap of $51.62 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 4.88 and a beta of 0.89. 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 has a 12 month low of $256.60 and a 12 month high of $355.87. The stock has a fifty day moving average price of $287.61 and a 200-day moving average price of $291.49.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping the consensus estimate of $4.23 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, equities research analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Monday, September 15th. Public Storage’s payout ratio is 130.86%.

Analysts Set New Price Targets

PSA has been the subject of several research analyst reports. Evercore ISI lifted their target price on Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a research report on Friday, October 3rd. UBS Group decreased their price objective on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. BNP Paribas Exane started coverage on shares of Public Storage in a report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 price objective for the company. Barclays decreased their price target on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Finally, BNP Paribas raised shares of Public Storage to a “strong-buy” rating in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $322.92.

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.