Public Storage $PSA Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in shares of Public Storage (NYSE:PSA) by 14.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 245,694 shares of the real estate investment trust’s stock after purchasing an additional 30,581 shares during the period. Allspring Global Investments Holdings LLC owned 0.14% of Public Storage worth $73,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA purchased a new stake in Public Storage during the second quarter worth approximately $25,000. Spectrum Wealth Counsel LLC purchased a new stake in Public Storage during the first quarter worth approximately $30,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage during the first quarter worth approximately $36,000. Wayfinding Financial LLC purchased a new stake in Public Storage during the first quarter worth approximately $41,000. Finally, Rossby Financial LCC purchased a new stake in Public Storage during the first quarter worth approximately $45,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the subject of several research reports. UBS Group decreased their price objective on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. Evercore ISI boosted their price objective on shares of Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a research note on Friday, October 3rd. BMO Capital Markets cut shares of Public Storage from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. Barclays reduced their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Finally, Scotiabank reduced 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. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and a consensus price target of $324.92.

Public Storage Trading Up 1.8%

PSA opened at $299.69 on Tuesday. The stock has a market capitalization of $52.58 billion, a PE ratio of 32.68, a P/E/G ratio of 4.88 and a beta of 0.89. The firm’s fifty day moving average price is $288.00 and its 200 day moving average price is $291.52. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, research analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.0%. Public Storage’s dividend payout ratio is currently 130.86%.

Public Storage Company 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.