Public Storage $PSA Shares Purchased by Cbre Investment Management Listed Real Assets LLC

Key Points

• CBRE Investment Management Listed Real Assets LLC increased its stake in Public Storage by 29%, acquiring an additional 76,444 shares, bringing its total ownership to 339,993 shares.
• Public Storage received various ratings changes from analysts, with BMO Capital Markets downgrading it from "outperform" to "market perform," while Mizuho raised its price objective from $287 to $309.
• In its latest earnings report, Public Storage exceeded analysts' estimates with $4.28 earnings per share and reported a revenue of $1.20 billion for the quarter.

Cbre Investment Management Listed Real Assets LLC raised its position in shares of Public Storage (NYSE:PSA - Free Report) by 29.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 339,993 shares of the real estate investment trust's stock after purchasing an additional 76,444 shares during the quarter. Public Storage accounts for about 1.6% of Cbre Investment Management Listed Real Assets LLC's investment portfolio, making the stock its 19th biggest holding. Cbre Investment Management Listed Real Assets LLC owned 0.19% of Public Storage worth $101,757,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Public Storage by 12.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust's stock valued at $13,240,000 after purchasing an additional 4,746 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Public Storage by 9.7% during the 1st quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust's stock valued at $517,000 after acquiring an additional 152 shares during the period. Asset Management One Co. Ltd. increased its holdings in Public Storage by 1.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust's stock worth $92,960,000 after acquiring an additional 3,627 shares in the last quarter. Private Trust Co. NA raised its stake in Public Storage by 228.1% during the 1st quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust's stock worth $640,000 after acquiring an additional 1,487 shares during the period. Finally, Summit Trail Advisors LLC lifted its holdings in Public Storage by 43.3% during the first quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust's stock valued at $1,083,000 after purchasing an additional 1,093 shares in the last quarter. Institutional investors own 78.79% of the company's stock.

Public Storage Trading Down 0.3%

PSA stock traded down $0.79 during trading on Tuesday, hitting $289.05. The company had a trading volume of 760,164 shares, compared to its average volume of 776,412. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. The company has a 50 day simple moving average of $287.66 and a 200-day simple moving average of $294.34. The firm has a market capitalization of $50.71 billion, a P/E ratio of 17.24, a PEG ratio of 4.81 and a beta of 0.86. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company posted $4.23 earnings per share. The company's quarterly revenue 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. As a group, research analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.2%. Public Storage's dividend payout ratio is currently 130.86%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PSA shares. Wells Fargo & Company reduced their target price on Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Barclays reduced their price objective on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Royal Bank Of Canada decreased 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. Evercore ISI lifted their target price on Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a report on Monday, August 4th. Finally, Scotiabank boosted their target price on Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $335.43.

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.