Generali Asset Management SPA SGR Sells 3,685 Shares of Public Storage $PSA

Key Points

• Generali Asset Management SPA SGR reduced its holdings in Public Storage by 89.8% in the second quarter, selling 3,685 shares and now owning just 418 shares valued at $123,000.
• Public Storage recently reported an EPS of $4.28 for the last quarter, surpassing expectations, while revenue grew by 2.4% year-over-year, reflecting strong financial performance.
• The company's quarterly dividend of $3.00 per share, yielding approximately 3.9%, indicates robust shareholder returns despite a high payout ratio of 130.86%.

Generali Asset Management SPA SGR lessened its position in Public Storage (NYSE:PSA - Free Report) by 89.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 418 shares of the real estate investment trust's stock after selling 3,685 shares during the quarter. Generali Asset Management SPA SGR's holdings in Public Storage were worth $123,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ritholtz Wealth Management lifted its holdings in Public Storage by 3.8% during the 2nd quarter. Ritholtz Wealth Management now owns 8,426 shares of the real estate investment trust's stock valued at $2,472,000 after buying an additional 306 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Public Storage by 18.9% during the 2nd quarter. Harbour Investments Inc. now owns 2,210 shares of the real estate investment trust's stock valued at $649,000 after buying an additional 351 shares in the last quarter. Bayforest Capital Ltd lifted its holdings in Public Storage by 20.9% during the 2nd quarter. Bayforest Capital Ltd now owns 410 shares of the real estate investment trust's stock valued at $120,000 after buying an additional 71 shares in the last quarter. Sagespring Wealth Partners LLC lifted its holdings in Public Storage by 5.7% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 1,345 shares of the real estate investment trust's stock valued at $395,000 after buying an additional 72 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in Public Storage by 13.2% during the 2nd quarter. Wilmington Savings Fund Society FSB now owns 5,421 shares of the real estate investment trust's stock valued at $1,591,000 after buying an additional 633 shares in the last quarter. Institutional investors own 78.79% of the company's stock.

Public Storage Trading Up 0.3%

NYSE PSA opened at $307.77 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $54.00 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 5.02 and a beta of 0.89. The company's 50-day simple moving average is $289.77 and its two-hundred day simple moving average is $291.73. Public Storage has a one year low of $256.60 and a one year high of $355.87.

Public Storage (NYSE:PSA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating 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 the consensus estimate of $1.20 billion. During the same quarter last year, the firm posted $4.23 EPS. The company's revenue for the quarter was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities analysts forecast that Public Storage will post 16.7 EPS 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 given a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. Public Storage's payout ratio is presently 130.86%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PSA. BNP Paribas Exane began coverage on shares of Public Storage in a report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 price objective for the company. Barclays decreased their price objective on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $325.00 price objective for the company in a report on Monday, October 13th. Royal Bank Of Canada cut their target price on shares of 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. Finally, Evercore ISI raised their target price on shares of Public Storage from $312.00 to $317.00 and gave the company a "cautious" rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $324.92.

Public Storage 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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