Pershing Square Inc. (NYSE:PS) Declares Quarterly Dividend of $0.10

Key Points

• Pershing Square declared a quarterly dividend of $0.103 per share, payable October 20 to shareholders of record October 12. The annualized dividend is $0.41, yielding 0.7%, and is 15.6% lower than the previous quarterly payment.
• PS shares opened at $59.74, up 8.9%, near their 52-week high of $60.40. The company has a $23.90 billion market capitalization and a P/E ratio of 426.71.
• Pershing Square reported quarterly EPS of $0.14, beating analyst expectations by $0.02, on revenue of $68.03 million. Several hedge funds, including RiverNorth Capital Management and Clal Insurance, established new positions during the second quarter.

Pershing Square Inc. (NYSE:PS - Get Free Report) declared a quarterly dividend on Friday, October 2nd. Shareholders of record on Monday, October 12th will be paid a dividend of $0.1030 per share on Tuesday, October 20th. This represents a $0.41 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, October 9th. This is a 15.6% decrease from Pershing Square's previous quarterly dividend of $0.1220.

Pershing Square Trading Up 8.9%

PS opened at $59.74 on Wednesday. Pershing Square has a 52-week low of $22.01 and a 52-week high of $60.40. The stock's 50 day simple moving average is $42.75. The stock has a market capitalization of $23.90 billion and a P/E ratio of 426.71.

Pershing Square (NYSE:PS - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $68.03 million for the quarter. As a group, equities research analysts anticipate that Pershing Square will post 0.56 EPS for the current year.

Institutional Trading of Pershing Square

A number of hedge funds have recently made changes to their positions in PS. Rivernorth Capital Management LLC acquired a new stake in Pershing Square in the second quarter valued at $14,787,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in Pershing Square during the 2nd quarter worth $9,858,000. Equitec Proprietary Markets LLC bought a new stake in shares of Pershing Square in the 2nd quarter worth about $3,828,000. NewEdge Advisors LLC acquired a new stake in shares of Pershing Square in the 2nd quarter valued at about $1,702,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Pershing Square in the 2nd quarter valued at about $1,459,000.

About Pershing Square

Pershing Square USA, Ltd. is a closed-end investment company listed on the New York Stock Exchange under the symbol PS. The company is designed to provide investors with long-term capital appreciation through a concentrated portfolio of investments in publicly traded businesses.

The fund is managed by Pershing Square Capital Management, L.P., an investment management firm founded and led by William A. Ackman. Its investment approach generally emphasizes detailed fundamental research, activist engagement when appropriate, and ownership of a limited number of companies that the manager believes have durable business models, strong management teams, and long-term growth potential.

Pershing Square USA primarily focuses on publicly traded companies in the United States and other developed markets, with investment decisions centered on individual business fundamentals rather than broad market exposure.

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