Elo Mutual Pension Insurance Co Sells 398 Shares of Public Storage $PSA

Elo Mutual Pension Insurance Co lessened its stake in Public Storage (NYSE:PSA) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,976 shares of the real estate investment trust’s stock after selling 398 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Public Storage were worth $3,221,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Public Storage by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 20,815,476 shares of the real estate investment trust’s stock valued at $6,107,677,000 after acquiring an additional 79,580 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Public Storage by 3.4% during the second quarter. JPMorgan Chase & Co. now owns 3,157,067 shares of the real estate investment trust’s stock valued at $926,357,000 after purchasing an additional 103,965 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Public Storage by 1.0% during the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock worth $894,177,000 after purchasing an additional 30,775 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Public Storage by 3.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,924,395 shares of the real estate investment trust’s stock worth $857,674,000 after purchasing an additional 87,918 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Public Storage by 2.8% in the 1st quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock valued at $762,135,000 after buying an additional 69,882 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PSA. Truist Financial dropped their target price on shares of Public Storage from $320.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday. Wells Fargo & Company lifted their price target on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Royal Bank Of Canada decreased their target price on Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. lowered their target price on Public Storage from $321.00 to $316.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $325.57.

Public Storage Stock Performance

Shares of PSA opened at $274.59 on Thursday. Public Storage has a 1 year low of $256.60 and a 1 year high of $355.87. 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 stock’s fifty day moving average price is $286.21 and its two-hundred day moving average price is $290.16. The firm has a market cap of $48.18 billion, a PE ratio of 28.51, a PEG ratio of 4.72 and a beta of 0.91.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.07. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.During the same quarter in the prior year, the business posted $4.20 earnings per share. Public Storage’s quarterly revenue was down 5.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, equities research analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

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

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.