Public Storage $PSA Shares Acquired by AG2R LA Mondiale Gestion D Actifs

AG2R LA Mondiale Gestion D Actifs raised its holdings in shares of Public Storage (NYSE:PSA) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,968 shares of the real estate investment trust’s stock after acquiring an additional 500 shares during the quarter. AG2R LA Mondiale Gestion D Actifs’ holdings in Public Storage were worth $2,045,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Retirement Planning Co of New England Inc. boosted its position in shares of Public Storage by 1.6% during the 1st 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 acquiring an additional 33 shares in the last quarter. Whitener Capital Management Inc. lifted its holdings in shares of Public Storage by 2.3% in the 2nd quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock valued at $472,000 after purchasing an additional 36 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Public Storage by 9.5% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 36 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Public Storage by 4.6% in the 2nd quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 38 shares during the last quarter. Finally, Evermay Wealth Management LLC lifted its holdings in shares of Public Storage by 13.3% in the 2nd quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 38 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PSA shares. JPMorgan Chase & Co. reduced their target price on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Royal Bank Of Canada reduced their target price on Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. Evercore ISI boosted their target price on Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a report on Saturday. Finally, UBS Group reduced their price objective on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and an average target price of $324.92.

Public Storage Stock Down 1.2%

PSA opened at $302.52 on Friday. The business has a 50 day moving average price of $292.41 and a two-hundred day moving average price of $292.80. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The company has a market cap of $53.08 billion, a PE ratio of 32.99, a P/E/G ratio of 4.93 and a beta of 0.89. Public Storage has a 52 week low of $256.60 and a 52 week high of $355.87.

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

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s dividend payout ratio is 130.86%.

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.