Blue Trust Inc. Acquires 1,220 Shares of Public Storage $PSA

Key Points

• Blue Trust Inc. significantly increased its holdings in Public Storage by 240.2%, acquiring an additional 1,220 shares in the second quarter, bringing their total to 1,728 shares valued at approximately $507,000.
• Public Storage reported earnings per share of $4.28 for the most recent quarter, surpassing analysts' estimates and indicating a 2.4% year-over-year revenue growth.
• The company declared a quarterly dividend of $3.00, representing a 4.1% yield on an annualized basis, with a payout ratio of 130.86%.

Blue Trust Inc. raised its holdings in Public Storage (NYSE:PSA - Free Report) by 240.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,728 shares of the real estate investment trust's stock after acquiring an additional 1,220 shares during the quarter. Blue Trust Inc.'s holdings in Public Storage were worth $507,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Marshall & Sullivan Inc. WA bought a new position in shares of Public Storage during the 2nd quarter worth $25,000. Spectrum Wealth Counsel LLC bought a new position in shares of Public Storage during the 1st quarter worth $30,000. Opal Wealth Advisors LLC bought a new position in shares of Public Storage during the 1st quarter worth $36,000. Wayfinding Financial LLC bought a new position in shares of Public Storage during the 1st quarter worth $41,000. Finally, Rossby Financial LCC bought a new position in shares of Public Storage during the 1st quarter worth $45,000. Institutional investors own 78.79% of the company's stock.

Public Storage Price Performance

Shares of PSA stock opened at $294.19 on Monday. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. The stock's 50-day moving average is $287.61 and its 200 day moving average is $291.48. The company has a market cap of $51.62 billion, a P/E ratio of 32.08, a PEG ratio of 4.88 and a beta of 0.89. 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 issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company earned $4.23 earnings per share. The firm'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. Research analysts predict 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 was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $3.00 dividend. The ex-dividend date was 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 130.86%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. BNP Paribas raised Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. dropped their price target on Public Storage from $324.00 to $321.00 and set an "overweight" rating on the stock in a research report on Friday, September 12th. Barclays dropped their price target on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. UBS Group dropped their price target on Public Storage from $305.00 to $295.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 16th. Finally, Royal Bank Of Canada dropped their price objective on Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $322.92.

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.

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