Vanguard Group Inc. Grows Stock Holdings in Public Storage $PSA

Vanguard Group Inc. grew its position in Public Storage (NYSE:PSA) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,815,476 shares of the real estate investment trust’s stock after buying an additional 79,580 shares during the quarter. Vanguard Group Inc. owned 0.12% of Public Storage worth $6,107,677,000 as of its most recent filing with the Securities and Exchange Commission.

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

Public Storage Stock Performance

NYSE:PSA opened at $271.33 on Wednesday. The firm has a market capitalization of $47.61 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91. The business’s fifty day moving average price is $288.52 and its 200 day moving average price is $291.40. 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 12 month low of $256.60 and a 12 month high of $355.87.

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

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s dividend payout ratio is 124.61%.

Wall Street Analyst Weigh In

PSA has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised 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. Evercore ISI reduced their price target on Public Storage from $317.00 to $315.00 and set an “in-line” rating on the stock in a research report on Monday, November 3rd. Finally, Scotiabank decreased their price objective on 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 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, the company has a consensus rating of “Moderate Buy” and an average target price of $325.38.

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.