Presima Securities ULC Boosts Holdings in Public Storage $PSA

Presima Securities ULC increased its holdings in Public Storage (NYSE:PSA) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,863 shares of the real estate investment trust’s stock after buying an additional 192 shares during the quarter. Public Storage accounts for about 0.5% of Presima Securities ULC’s investment portfolio, making the stock its 25th largest position. Presima Securities ULC’s holdings in Public Storage were worth $2,307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PSA. Private Trust Co. NA increased its position in Public Storage by 228.1% during the first quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust’s stock valued at $640,000 after acquiring an additional 1,487 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Public Storage by 5.2% during the first quarter. TCW Group Inc. now owns 13,696 shares of the real estate investment trust’s stock valued at $4,099,000 after purchasing an additional 676 shares during the period. Jump Financial LLC purchased a new stake in shares of Public Storage during the first quarter valued at $1,124,000. Capital Advisors Inc. OK purchased a new stake in shares of Public Storage during the first quarter valued at $446,000. Finally, Vanguard Group Inc. boosted its stake in shares of Public Storage by 0.7% during the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock valued at $6,206,046,000 after purchasing an additional 143,575 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research note on Monday, October 13th. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Royal Bank Of Canada lowered their target price on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a research note on Friday. 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $325.54.

Public Storage Stock Down 0.7%

NYSE:PSA opened at $278.99 on Friday. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. The company has a 50-day moving average of $292.66 and a 200 day moving average of $293.04. The firm has a market cap of $48.95 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 4.72 and a beta of 0.89. 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 (NYSE:PSA) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 35.67%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, research analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s dividend payout ratio is presently 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.