Focus Partners Advisor Solutions LLC Reduces Stake in Public Storage $PSA

Focus Partners Advisor Solutions LLC decreased its stake in shares of Public Storage (NYSE:PSA - Free Report) by 57.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 689 shares of the real estate investment trust's stock after selling 939 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Public Storage were worth $206,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Public Storage by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock valued at $6,206,046,000 after acquiring an additional 143,575 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Public Storage by 1.0% in the 1st quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust's stock valued at $894,177,000 after purchasing an additional 30,775 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Public Storage by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust's stock valued at $848,425,000 after purchasing an additional 34,718 shares in the last quarter. Northern Trust Corp boosted its position in shares of Public Storage by 2.8% during the first quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust's stock valued at $762,135,000 after purchasing an additional 69,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Public Storage by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust's stock worth $638,805,000 after purchasing an additional 12,204 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Down 0.8%

Shares of NYSE:PSA traded down $2.21 during trading on Friday, reaching $292.71. 690,770 shares of the stock traded hands, compared to its average volume of 601,191. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. The stock has a market cap of $51.36 billion, a P/E ratio of 31.92, a price-to-earnings-growth ratio of 4.90 and a beta of 0.86. The stock has a 50-day moving average of $287.40 and a two-hundred day moving average of $293.56. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77.

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, topping 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 return on equity of 34.06% and a net margin of 38.13%.The company's revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, sell-side analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have commented on PSA. Evercore ISI raised their price objective on Public Storage from $308.00 to $309.00 and gave the company an "in-line" rating in a research report on Monday, August 4th. Wells Fargo & Company decreased their price target 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. Scotiabank dropped their price objective on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a research note on Thursday, August 28th. Barclays cut their price objective on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, BMO Capital Markets downgraded shares of Public Storage from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $340.00 to $325.00 in a research note on Friday, June 20th. One 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 target price of $331.62.

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.