Intech Investment Management LLC Sells 13,630 Shares of Public Storage $PSA

Intech Investment Management LLC reduced its position in shares of Public Storage (NYSE:PSA) by 64.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,653 shares of the real estate investment trust’s stock after selling 13,630 shares during the quarter. Intech Investment Management LLC’s holdings in Public Storage were worth $2,246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PSA. TCW Group Inc. grew its holdings in Public Storage by 5.2% during the 1st quarter. TCW Group Inc. now owns 13,696 shares of the real estate investment trust’s stock worth $4,099,000 after acquiring an additional 676 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Public Storage during the first quarter worth $1,124,000. Vanguard Group Inc. grew its stake in shares of Public Storage by 0.7% in the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock worth $6,206,046,000 after purchasing an additional 143,575 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Public Storage by 3.0% in the first quarter. The Manufacturers Life Insurance Company now owns 103,972 shares of the real estate investment trust’s stock worth $31,118,000 after purchasing an additional 2,990 shares during the last quarter. Finally, Meridian Wealth Management LLC increased its holdings in Public Storage by 181.2% in the first quarter. Meridian Wealth Management LLC now owns 3,712 shares of the real estate investment trust’s stock valued at $1,111,000 after purchasing an additional 2,392 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of PSA opened at $265.45 on Friday. The firm has a market cap of $46.58 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. The business’s 50 day moving average price is $287.47 and its two-hundred day moving average price is $291.04. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 35.67%. During the same period last year, the company posted $4.20 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. 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 EPS for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s payout ratio is 124.61%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wells Fargo & Company lifted their target price on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. JPMorgan Chase & Co. lowered their price objective on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research report on Monday, October 13th. Finally, Evercore ISI dropped their price target on shares of Public Storage from $317.00 to $315.00 and set an “in-line” rating on the stock in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $325.38.

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.