19,120 Shares in Public Storage $PSA Purchased by Eisler Capital Management Ltd.

Key Points

• Eisler Capital Management Ltd. acquired 19,120 shares of Public Storage, valued at around $5.7 million, marking a new position in the REIT during the first quarter.
• Brokerages show mixed outlooks for Public Storage, with Scotiabank raising its target price to $340 and Royal Bank Of Canada lowering theirs to $309; analysts have given a consensus rating of “Moderate Buy.”
• Public Storage reported an EPS of $4.28 for the quarter, exceeding forecasts and announcing a quarterly dividend of $3.00, yielding 4.2% annually.

Eisler Capital Management Ltd. bought a new stake in Public Storage (NYSE:PSA - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 19,120 shares of the real estate investment trust's stock, valued at approximately $5,720,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. AG lifted its stake in Public Storage by 14.7% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 4,460 shares of the real estate investment trust's stock valued at $1,335,000 after buying an additional 572 shares during the last quarter. Transamerica Financial Advisors LLC lifted its stake in Public Storage by 14.5% in the first quarter. Transamerica Financial Advisors LLC now owns 962 shares of the real estate investment trust's stock valued at $288,000 after buying an additional 122 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in Public Storage by 7.1% in the first quarter. CreativeOne Wealth LLC now owns 726 shares of the real estate investment trust's stock valued at $217,000 after buying an additional 48 shares during the last quarter. Ieq Capital LLC raised its stake in shares of Public Storage by 2.7% during the first quarter. Ieq Capital LLC now owns 15,068 shares of the real estate investment trust's stock valued at $4,510,000 after purchasing an additional 397 shares in the last quarter. Finally, Harvest Portfolios Group Inc. raised its stake in shares of Public Storage by 40.3% during the first quarter. Harvest Portfolios Group Inc. now owns 5,227 shares of the real estate investment trust's stock valued at $1,564,000 after purchasing an additional 1,502 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of recent analyst reports. Scotiabank cut their price objective on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a research note on Thursday. Mizuho lifted their price objective on shares of Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Bank of America lifted their price objective on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, BNP Paribas Exane initiated coverage on shares of Public Storage in a research note on Tuesday, June 24th. They set an "outperform" rating and a $331.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $331.62.

Public Storage Price Performance

Public Storage stock traded up $3.05 during midday trading on Friday, hitting $294.72. The company's stock had a trading volume of 519,329 shares, compared to its average volume of 699,588. 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 stock's 50-day moving average price is $287.69 and its 200-day moving average price is $294.09. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a market capitalization of $51.71 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 4.89 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the business earned $4.23 earnings per share. Public Storage's revenue for the quarter was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. Public Storage's dividend payout ratio (DPR) is currently 130.86%.

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.