AG2R LA Mondiale Gestion D Actifs Buys Shares of 6,468 Public Storage $PSA

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired 6,468 shares of Public Storage (PSA), valued at approximately $1,995,000, as reported in its recent SEC filing.
• Public Storage's recent earnings showed an EPS of $4.28, beating estimates and indicating a 2.4% revenue growth compared to last year.
• The company announced a quarterly dividend of $3.00 per share, indicating a 4.1% yield, with a payout ratio currently at 130.86%.

AG2R LA Mondiale Gestion D Actifs bought a new stake in Public Storage (NYSE:PSA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,468 shares of the real estate investment trust's stock, valued at approximately $1,995,000.

A number of other institutional investors have also recently added to or reduced their stakes in PSA. Nuveen LLC acquired a new stake in Public Storage in the first quarter valued at approximately $271,196,000. GAMMA Investing LLC lifted its stake in Public Storage by 34,827.1% in the first quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust's stock valued at $157,114,000 after acquiring an additional 523,452 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Public Storage by 68.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust's stock valued at $348,670,000 after acquiring an additional 475,342 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Public Storage in the fourth quarter valued at approximately $99,157,000. Finally, Point72 Asset Management L.P. acquired a new stake in Public Storage in the fourth quarter valued at approximately $60,742,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of analyst reports. BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Wells Fargo & Company reduced their price objective on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Scotiabank reduced their price objective on shares of 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. Finally, Mizuho boosted their price objective on shares of Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Public Storage currently has a consensus rating of "Moderate Buy" and a consensus price target of $331.62.

Public Storage Price Performance

NYSE:PSA opened at $292.71 on Friday. The stock has a market cap of $51.36 billion, a P/E ratio of 31.92, a PEG ratio of 4.90 and a beta of 0.86. Public Storage has a one year low of $256.60 and a one year high of $369.99. The company has a fifty day moving average price of $287.40 and a 200 day moving average price of $293.56. 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 (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating the consensus estimate of $4.23 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.23 EPS. 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 year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, September 15th. Public Storage's dividend payout ratio is presently 130.86%.

Public Storage 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.