Aviva PLC Has $34.65 Million Stake in Public Storage $PSA

Aviva PLC grew its stake in Public Storage (NYSE:PSA) by 7.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,105 shares of the real estate investment trust’s stock after purchasing an additional 7,946 shares during the quarter. Aviva PLC’s holdings in Public Storage were worth $34,654,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Retirement Planning Co of New England Inc. boosted its holdings in Public Storage by 1.6% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 33 shares during the last quarter. Whitener Capital Management Inc. lifted its position in shares of Public Storage by 2.3% during the second quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock valued at $472,000 after purchasing an additional 36 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in Public Storage by 9.5% during the second quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 36 shares during the last quarter. Mather Group LLC. boosted its holdings in Public Storage by 4.6% during the second quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust’s stock worth $253,000 after purchasing an additional 38 shares during the last quarter. Finally, Evermay Wealth Management LLC grew its position in Public Storage by 13.3% in the 2nd quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock worth $95,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays cut their target price on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Royal Bank Of Canada cut their price objective on Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. JPMorgan Chase & Co. decreased their target price on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Evercore ISI cut their price target on shares of Public Storage from $317.00 to $315.00 and set an “in-line” rating on the stock in a report on Monday, November 3rd. Finally, UBS Group reduced their price target on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.38.

Public Storage Stock Performance

NYSE PSA opened at $278.00 on Monday. The company’s 50 day moving average is $291.20 and its 200-day moving average is $292.49. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm has a market cap of $48.78 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91.

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

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a $3.00 dividend. The ex-dividend date is Monday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.3%. Public Storage’s payout ratio is 124.61%.

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.