Generali Asset Management SPA SGR Cuts Stock Position in Public Storage $PSA

Generali Asset Management SPA SGR lowered its position in Public Storage (NYSE:PSA) by 89.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 418 shares of the real estate investment trust’s stock after selling 3,685 shares during the period. Generali Asset Management SPA SGR’s holdings in Public Storage were worth $123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall & Sullivan Inc. WA acquired a new stake in Public Storage in the 2nd quarter worth approximately $25,000. Spectrum Wealth Counsel LLC acquired a new stake in Public Storage in the 1st quarter worth approximately $30,000. Wayfinding Financial LLC acquired a new stake in Public Storage in the 1st quarter worth approximately $41,000. Rossby Financial LCC acquired a new stake in Public Storage in the 1st quarter worth approximately $45,000. Finally, Winch Advisory Services LLC boosted its stake in Public Storage by 39.8% in the 1st quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of NYSE PSA opened at $307.77 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 12 month low of $256.60 and a 12 month high of $355.87. The company has a 50 day simple moving average of $289.77 and a two-hundred day simple moving average of $291.73. The stock has a market cap of $54.00 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 5.02 and a beta of 0.89.

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 the consensus estimate 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 analysts’ expectations of $1.20 billion. During the same period in the previous year, the business posted $4.23 EPS. The business’s quarterly 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. As a group, analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, September 15th. Public Storage’s payout ratio is currently 130.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PSA shares. Royal Bank Of Canada lowered their target price on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a research note on Friday, August 1st. JPMorgan Chase & Co. lowered their target price on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. BNP Paribas Exane started coverage on shares of Public Storage in a research note on Tuesday, June 24th. They issued an “outperform” rating and a $331.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research note on Wednesday, October 8th. Finally, Evercore ISI lifted their price objective on shares of Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $324.92.

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.