Diversified Trust Co Takes Position in Public Storage $PSA

Key Points

• Diversified Trust Co acquired a new stake in Public Storage (NYSE:PSA) during the second quarter, purchasing 1,424 shares valued at approximately $418,000.
• Public Storage reported $4.28 earnings per share for its most recent quarter, exceeding analyst expectations and showing a 2.4% year-over-year revenue increase.
• The company announced a quarterly dividend of $3.00 per share, resulting in a 4.3% dividend yield, with a dividend payout ratio of 130.86%.

Diversified Trust Co bought a new stake in shares of Public Storage (NYSE:PSA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,424 shares of the real estate investment trust's stock, valued at approximately $418,000.

Several other hedge funds have also bought and sold shares of PSA. Nuveen LLC bought a new stake in Public Storage during the first quarter worth about $271,196,000. GAMMA Investing LLC raised its holdings in shares of Public Storage by 34,827.1% during 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 purchasing an additional 523,452 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Public Storage by 68.9% during 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 purchasing an additional 475,342 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Public Storage during the fourth quarter valued at approximately $99,157,000. Finally, Vanguard Group Inc. raised its position in Public Storage by 0.7% in the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock worth $6,206,046,000 after acquiring an additional 143,575 shares during the period. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of NYSE:PSA opened at $282.16 on Wednesday. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99. The stock has a market capitalization of $49.51 billion, a P/E ratio of 30.77, a PEG ratio of 4.64 and a beta of 0.86. The firm has a fifty day simple moving average of $286.58 and a two-hundred day simple moving average of $292.24. 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 released its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (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 during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $4.23 EPS. The business's revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, September 15th. Public Storage's dividend payout ratio (DPR) is 130.86%.

Analyst Ratings Changes

Several research analysts have weighed in on PSA shares. Evercore ISI increased their price target on shares of Public Storage from $309.00 to $312.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. Barclays reduced their price objective on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. 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. Mizuho raised their target price 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. Finally, Wells Fargo & Company cut their target price 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $322.00.

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.

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