Graham Capital Management L.P. Purchases 11,553 Shares of Public Storage $PSA

Key Points

• Graham Capital Management L.P. significantly increased its holdings in Public Storage by 246.6% during the first quarter, owning 16,237 shares worth approximately $4.86 million.
• Analysts have set a consensus price target of $331.62 for Public Storage, with two rating it as a Strong Buy and others maintaining various levels of buy and hold ratings.
• Public Storage announced a quarterly dividend of $3.00 per share, equating to an annualized yield of 4.1%, despite a high dividend payout ratio of 130.86%.

Graham Capital Management L.P. lifted its holdings in Public Storage (NYSE:PSA - Free Report) by 246.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 16,237 shares of the real estate investment trust's stock after purchasing an additional 11,553 shares during the quarter. Graham Capital Management L.P.'s holdings in Public Storage were worth $4,860,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in shares of Public Storage during the 4th quarter worth about $30,000. Spectrum Wealth Counsel LLC purchased a new stake in Public Storage during the first quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Public Storage during the 1st quarter worth approximately $36,000. Wayfinding Financial LLC purchased a new stake in Public Storage in the 1st quarter valued at about $41,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Public Storage during the 4th quarter worth approximately $43,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of PSA stock traded up $3.35 on Wednesday, reaching $291.53. The company's stock had a trading volume of 569,088 shares, compared to its average volume of 597,584. The company has a market capitalization of $51.15 billion, a P/E ratio of 31.79, a PEG ratio of 4.89 and a beta of 0.86. The stock's 50 day simple moving average is $287.53 and its 200-day simple moving average is $293.98. 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 has a 12-month low of $256.60 and a 12-month high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly 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. The firm had revenue of $1.20 billion for 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 business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, equities analysts predict 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 given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis 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 Ratings Changes

Several analysts recently weighed in on PSA shares. Bank of America raised their target price on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. BNP Paribas Exane assumed coverage on shares of Public Storage in a report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price for the company. BMO Capital Markets lowered Public Storage from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $340.00 to $325.00 in a report on Friday, June 20th. Barclays decreased their price target on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, Wells Fargo & Company decreased their price target on Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and an average target price of $331.62.

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.