Public Storage $PSA Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its holdings in shares of Public Storage (NYSE:PSA) by 186.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,412 shares of the real estate investment trust’s stock after buying an additional 11,980 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Public Storage were worth $5,402,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall & Sullivan Inc. WA acquired a new stake in Public Storage during the 2nd quarter valued at approximately $25,000. Harbor Asset Planning Inc. acquired a new stake in Public Storage during the 2nd quarter valued at approximately $25,000. Spectrum Wealth Counsel LLC acquired a new stake in Public Storage during the 1st quarter valued at approximately $30,000. Wayfinding Financial LLC acquired a new stake in Public Storage during the 1st quarter valued at approximately $41,000. Finally, Winch Advisory Services LLC lifted its stake in shares of 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 valued at $45,000 after purchasing an additional 43 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PSA. Evercore ISI boosted their target price 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. UBS Group decreased their target price 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. Wells Fargo & Company boosted their target price on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. decreased 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. Finally, Scotiabank decreased their target price on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $325.69.

Public Storage Price Performance

Public Storage stock opened at $300.17 on Tuesday. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. The firm has a market capitalization of $52.66 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 4.93 and a beta of 0.89. The company has a fifty day simple moving average of $292.80 and a 200-day simple moving average of $292.99. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) 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 firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm posted $4.23 earnings per share. Public Storage’s quarterly revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

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

Public Storage 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.