Metis Global Partners LLC Has $9.35 Million Holdings in Public Storage $PSA

Metis Global Partners LLC increased its holdings in shares of Public Storage (NYSE:PSA) by 21.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,857 shares of the real estate investment trust’s stock after purchasing an additional 5,583 shares during the period. Metis Global Partners LLC’s holdings in Public Storage were worth $9,347,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Public Storage by 0.7% in 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 buying an additional 143,575 shares during the period. Wellington Management Group LLP lifted its position in Public Storage by 1.0% in the 1st quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock valued at $894,177,000 after acquiring an additional 30,775 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Public Storage by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust’s stock worth $848,425,000 after purchasing an additional 34,718 shares during the period. Northern Trust Corp boosted its stake in Public Storage by 2.8% in the 1st quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock worth $762,135,000 after purchasing an additional 69,882 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Public Storage by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock valued at $638,805,000 after purchasing an additional 12,204 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSA has been the subject of several recent research reports. Scotiabank reduced their price objective on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. Royal Bank Of Canada decreased their price target 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, October 31st. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Wells Fargo & Company lifted their price target on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Finally, Barclays reduced their price objective on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $325.38.

Public Storage Stock Up 1.5%

Public Storage stock opened at $278.00 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The company’s 50-day moving average is $291.20 and its 200-day moving average is $292.53. The firm has a market capitalization of $48.78 billion, a PE ratio of 28.87, a P/E/G ratio of 4.72 and a beta of 0.91. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $355.87.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.Public Storage’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company posted $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Sell-side analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 4.3%. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

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.