Equitable Trust Co. Has $12.73 Million Position in Public Storage $PSA

Key Points

• Equitable Trust Co. has reduced its stake in Public Storage by 26.8%, ending up with 43,384 shares valued at approximately $12.73 million.
• Public Storage reported earnings per share of $4.28 for the most recent quarter, surpassing analysts' expectations, and announced a quarterly dividend of $3.00 with a yield of 4.0%.
• Institutional investors hold a significant 78.79% of Public Storage stock, reflecting widespread confidence in the company's financial health and market position.

Equitable Trust Co. reduced its stake in shares of Public Storage (NYSE:PSA - Free Report) by 26.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,384 shares of the real estate investment trust's stock after selling 15,906 shares during the quarter. Equitable Trust Co.'s holdings in Public Storage were worth $12,730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC bought a new position in shares of Public Storage during the 1st quarter valued at about $271,196,000. Goldman Sachs Group Inc. boosted its holdings in shares of Public Storage by 68.9% in the 1st 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 buying an additional 475,342 shares during the last quarter. Vanguard Group Inc. raised its position in Public Storage by 0.7% during 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 in the last quarter. Deutsche Bank AG grew its holdings in Public Storage by 9.8% during the first quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust's stock worth $462,774,000 after purchasing an additional 138,486 shares during the period. Finally, Strs Ohio bought a new stake in Public Storage in the 1st quarter valued at $35,178,000. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

NYSE PSA opened at $299.69 on Tuesday. The firm's 50 day simple moving average is $288.00 and its 200 day simple moving average is $291.52. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 1 year low of $256.60 and a 1 year high of $355.87. The firm has a market capitalization of $52.58 billion, a price-to-earnings ratio of 32.68, a P/E/G ratio of 4.88 and a beta of 0.89.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, research analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage's dividend payout ratio is currently 130.86%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank Of Canada decreased their price objective on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Wells Fargo & Company cut 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 report on Wednesday, July 23rd. BNP Paribas Exane began coverage on Public Storage in a research note on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price on the stock. Finally, Wall Street Zen lowered Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Public Storage currently has an average rating of "Moderate Buy" and an average target price of $324.92.

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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