Teacher Retirement System of Texas Purchases 10,150 Shares of Public Storage $PSA

Teacher Retirement System of Texas increased its position in Public Storage (NYSE:PSA) by 19.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,973 shares of the real estate investment trust’s stock after acquiring an additional 10,150 shares during the period. Teacher Retirement System of Texas’ holdings in Public Storage were worth $18,190,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanderbilt University increased its holdings in Public Storage by 103.1% during the third quarter. Vanderbilt University now owns 9,112 shares of the real estate investment trust’s stock valued at $2,632,000 after buying an additional 4,626 shares during the last quarter. Clear Creek Financial Management LLC bought a new stake in shares of Public Storage during the 2nd quarter valued at $342,000. Carnegie Investment Counsel increased its stake in shares of Public Storage by 23.0% in the 3rd quarter. Carnegie Investment Counsel now owns 112,769 shares of the real estate investment trust’s stock worth $32,573,000 after purchasing an additional 21,073 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Public Storage by 32.4% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 18,045 shares of the real estate investment trust’s stock worth $5,212,000 after purchasing an additional 4,420 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in Public Storage by 24.3% in the 2nd quarter. Baird Financial Group Inc. now owns 25,424 shares of the real estate investment trust’s stock worth $7,460,000 after purchasing an additional 4,975 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 1.4%

Shares of PSA opened at $282.44 on Friday. The business’s 50 day moving average is $271.59 and its 200 day moving average is $282.34. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. Public Storage has a 12-month low of $256.54 and a 12-month high of $322.49. The company has a market capitalization of $49.56 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 7.33 and a beta of 1.01.

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 (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Research analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.2%. Public Storage’s dividend payout ratio is presently 124.61%.

Wall Street Analysts Forecast Growth

PSA has been the subject of several recent research reports. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Barclays set a $331.00 price objective on Public Storage in a research note on Tuesday, January 13th. Morgan Stanley began coverage on shares of Public Storage in a report on Friday, December 5th. They issued an “equal weight” rating and a $290.00 target price for the company. Mizuho decreased their target price on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $313.19.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.