Inspire Investing LLC Reduces Stock Position in Public Storage $PSA

Key Points

• Inspire Investing LLC decreased its stake in Public Storage stocks by 55.0%, owning 1,769 shares valued at $529,000 after selling 2,160 shares in the first quarter.
• Public Storage announced a quarterly dividend of $3.00 per share, with an annualized yield of 4.1% and a payout ratio of 130.86%.
• Analysts have mixed ratings on Public Storage, with a consensus rating of "Moderate Buy" and an average price target of $331.62.

Inspire Investing LLC decreased its stake in shares of Public Storage (NYSE:PSA - Free Report) by 55.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,769 shares of the real estate investment trust's stock after selling 2,160 shares during the quarter. Inspire Investing LLC's holdings in Public Storage were worth $529,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings 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 buying an additional 143,575 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Public Storage by 1.0% during 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 buying an additional 30,775 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Public Storage by 1.2% during the 1st 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 buying an additional 34,718 shares in the last quarter. Northern Trust Corp lifted its holdings in Public Storage by 2.8% during the 1st quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust's stock valued at $762,135,000 after buying an additional 69,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Public Storage by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust's stock valued at $638,805,000 after buying an additional 12,204 shares in the last quarter. Institutional investors own 78.79% of the company's stock.

Public Storage Trading Down 0.8%

NYSE PSA opened at $292.71 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm has a market cap of $51.36 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 4.90 and a beta of 0.86. The company has a 50 day moving average price of $287.40 and a 200 day moving average price of $293.48. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS 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 analyst estimates of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. Public Storage's revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, sell-side 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 will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid 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 is Monday, September 15th. Public Storage's payout ratio is 130.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PSA shares. 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 for the company in a report on Friday, August 1st. Mizuho boosted their price target on shares of Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Wells Fargo & Company reduced their price target on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Evercore ISI boosted their price target on shares of Public Storage from $308.00 to $309.00 and gave the company an "in-line" rating in a report on Monday, August 4th. Finally, BNP Paribas Exane initiated coverage on shares of Public Storage in a report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Public Storage currently has a consensus rating of "Moderate Buy" and an average price target 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.

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