Public Storage $PSA Stake Decreased by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd reduced its holdings in Public Storage by 9.9% in the first quarter, bringing its total to 61,753 shares worth approximately $18.48 million.
• Public Storage reported $4.28 earnings per share for the last quarter, exceeding analysts' expectations of $4.23, with a revenue of $1.20 billion for the quarter, marking a 2.4% increase compared to the previous year.
• The company declared a quarterly dividend of $3.00, yielding 4.1%, with a payout ratio of 130.86%, set to be paid on September 30th to investors of record by September 15th.

IFM Investors Pty Ltd lessened its stake in shares of Public Storage (NYSE:PSA - Free Report) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,753 shares of the real estate investment trust's stock after selling 6,764 shares during the quarter. IFM Investors Pty Ltd's holdings in Public Storage were worth $18,482,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Ameriflex Group Inc. purchased a new position in shares of Public Storage during the 4th quarter worth $30,000. Spectrum Wealth Counsel LLC purchased a new position in shares of Public Storage during the 1st quarter worth $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Public Storage during the 1st quarter worth $36,000. Wayfinding Financial LLC purchased a new position in shares of Public Storage during the 1st quarter worth $41,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Public Storage during the 4th quarter worth $43,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Analyst Ratings Changes

PSA has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada reduced their price target on Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. Evercore ISI increased their price target on Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a research note on Monday, August 4th. BNP Paribas Exane began coverage on Public Storage in a research report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price on the stock. Finally, BNP Paribas raised Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $331.62.

Public Storage Stock Down 0.8%

NYSE:PSA traded down $2.21 during mid-day trading on Friday, reaching $292.71. The stock had a trading volume of 690,770 shares, compared to its average volume of 601,191. The company has a market capitalization of $51.36 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 4.90 and a beta of 0.86. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The stock's 50 day simple moving average is $287.40 and its two-hundred day simple moving average is $293.56. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick 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 EPS for the quarter, topping analysts' consensus estimates of $4.23 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. Public Storage's dividend payout ratio (DPR) is currently 130.86%.

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.