Mutual of America Capital Management LLC Has $5.31 Million Stake in Public Storage $PSA

Mutual of America Capital Management LLC decreased its position in Public Storage (NYSE:PSA) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,105 shares of the real estate investment trust’s stock after selling 221 shares during the period. Mutual of America Capital Management LLC’s holdings in Public Storage were worth $5,312,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PSA. GAMMA Investing LLC lifted its holdings in Public Storage by 16.7% in the first quarter. GAMMA Investing LLC now owns 1,754 shares of the real estate investment trust’s stock valued at $525,000 after buying an additional 251 shares during the period. Blue Trust Inc. boosted its position in shares of Public Storage by 96.1% during the 1st quarter. Blue Trust Inc. now owns 508 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 249 shares in the last quarter. Continuum Advisory LLC grew its stake in shares of Public Storage by 15.2% in the 1st quarter. Continuum Advisory LLC now owns 636 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 84 shares during the period. Oppenheimer Asset Management Inc. increased its position in Public Storage by 12.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,131 shares of the real estate investment trust’s stock valued at $2,434,000 after buying an additional 879 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in Public Storage by 1.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust’s stock valued at $92,960,000 after buying an additional 3,627 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Down 1.1%

PSA opened at $308.39 on Wednesday. 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 fifty-two week low of $256.60 and a fifty-two week high of $355.87. The firm has a market capitalization of $54.11 billion, a PE ratio of 33.63, a P/E/G ratio of 5.09 and a beta of 0.89. The company’s 50-day moving average is $290.96 and its 200 day moving average is $292.02.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping 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 company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business posted $4.23 EPS. The firm’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. As a group, research analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on PSA shares. BNP Paribas raised Public Storage to a “strong-buy” rating in a research report on Tuesday, June 24th. Evercore ISI boosted their target price on Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a research report on Friday, October 3rd. Barclays decreased 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. Finally, BNP Paribas Exane started coverage on Public Storage in a research report on Tuesday, June 24th. They issued an “outperform” rating and a $331.00 target price for the company. 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 given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $324.92.

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.