Public Storage $PSA Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in Public Storage (NYSE:PSA) by 8.1% in the 2nd quarter, Holdings Channel reports. The firm owned 32,585 shares of the real estate investment trust’s stock after purchasing an additional 2,448 shares during the quarter. ProShare Advisors LLC’s holdings in Public Storage were worth $9,561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Marshall & Sullivan Inc. WA acquired a new stake in shares of Public Storage during the 2nd quarter valued at approximately $25,000. Harbor Asset Planning Inc. acquired a new stake in shares of Public Storage in the 2nd quarter worth approximately $25,000. Spectrum Wealth Counsel LLC purchased a new position in Public Storage in the 1st quarter valued at approximately $30,000. NewSquare Capital LLC raised its holdings in Public Storage by 60.6% during the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 40 shares during the last quarter. Finally, Winch Advisory Services LLC boosted its position in Public Storage by 39.8% during the first quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Performance

Shares of NYSE PSA opened at $275.07 on Thursday. The company has a 50-day simple moving average of $290.23 and a 200-day simple moving average of $292.13. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market cap of $48.26 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91. Public Storage has a 12 month low of $256.60 and a 12 month high of $355.87.

Public Storage (NYSE:PSA) last announced its 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. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 35.67%. Public Storage’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, equities analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

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

Wall Street Analyst Weigh In

PSA has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Wells Fargo & Company lifted their target price on shares of Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Royal Bank Of Canada lowered their price target on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. Finally, Barclays dropped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.