Public Storage $PSA Shares Acquired by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lifted its holdings in shares of Public Storage (NYSE:PSA) by 114.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,326 shares of the real estate investment trust’s stock after acquiring an additional 1,241 shares during the period. Transcend Capital Advisors LLC’s holdings in Public Storage were worth $682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PSA. Nuveen LLC acquired a new position in shares of Public Storage during the first quarter worth approximately $271,196,000. Goldman Sachs Group Inc. lifted its position in Public Storage by 68.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock worth $348,670,000 after purchasing an additional 475,342 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Public Storage in the second quarter worth approximately $94,297,000. Vanguard Group Inc. lifted its position in 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 period. Finally, Deutsche Bank AG lifted its position in Public Storage by 9.8% in the first quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust’s stock worth $462,774,000 after purchasing an additional 138,486 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PSA. JPMorgan Chase & Co. cut their target price 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. Evercore ISI upped 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 cut their target price on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Royal Bank Of Canada cut their target price on Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a research report on Friday, August 1st. Finally, Barclays cut their target price on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.69.

Public Storage Price Performance

Shares of NYSE:PSA opened at $297.63 on Wednesday. Public Storage has a one year low of $256.60 and a one year high of $355.87. The stock has a fifty day moving average of $293.01 and a 200-day moving average of $293.13. The company has a market capitalization of $52.22 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 4.90 and a beta of 0.89. 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 announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm earned $4.23 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given 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 was Monday, September 15th. Public Storage’s dividend payout ratio is 130.86%.

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.