IFM Investors Pty Ltd Has $18.48 Million Stake in Public Storage $PSA

IFM Investors Pty Ltd reduced its holdings in shares of Public Storage (NYSE:PSA) by 9.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,753 shares of the real estate investment trust’s stock after selling 6,764 shares during the period. IFM Investors Pty Ltd’s holdings in Public Storage were worth $18,482,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Intech Investment Management LLC lifted its position in Public Storage by 2,005.1% in the 1st quarter. Intech Investment Management LLC now owns 21,283 shares of the real estate investment trust’s stock valued at $6,370,000 after acquiring an additional 20,272 shares in the last quarter. Focus Partners Wealth lifted its position in Public Storage by 14.8% in the 1st quarter. Focus Partners Wealth now owns 16,036 shares of the real estate investment trust’s stock valued at $4,800,000 after acquiring an additional 2,065 shares in the last quarter. Flaharty Asset Management LLC bought a new position in Public Storage in the 1st quarter valued at about $104,000. Advisory Alpha LLC lifted its position in Public Storage by 4.3% in the 1st quarter. Advisory Alpha LLC now owns 1,751 shares of the real estate investment trust’s stock valued at $524,000 after acquiring an additional 72 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its position in Public Storage by 465.0% in the 1st quarter. Bayforest Capital Ltd now owns 339 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 279 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSA has been the topic of several recent research reports. Wall Street Zen cut shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. BNP Paribas Exane initiated coverage on shares of Public Storage in a research report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 target price on the stock. Scotiabank dropped their target price on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Bank of America lifted their target price on shares of Public Storage from $368.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their target price on shares of Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $331.62.

Public Storage Trading Down 1.5%

NYSE:PSA opened at $290.41 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $50.95 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 4.89 and a beta of 0.86. The firm’s 50 day moving average is $287.66 and its 200 day moving average is $293.75. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the business earned $4.23 EPS. Public Storage’s revenue was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Sell-side analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, September 15th. Public Storage’s payout ratio is currently 130.86%.

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.