Intech Investment Management LLC Buys 20,272 Shares of Public Storage $PSA

Key Points

• Intech Investment Management LLC significantly increased its holdings in Public Storage, buying 20,272 shares and raising its total position by 2,005.1% to 21,283 shares valued at approximately $6.37 million.
• Public Storage recently reported a quarterly earnings per share (EPS) of $4.28, exceeding the consensus estimate, with revenues of $1.20 billion showing a 2.4% year-over-year increase.
• The company declared a $3.00 dividend per share, with an annualized dividend yield of 4.1%, and a dividend payout ratio of 130.86%.

Intech Investment Management LLC lifted its holdings in Public Storage (NYSE:PSA - Free Report) by 2,005.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 21,283 shares of the real estate investment trust's stock after purchasing an additional 20,272 shares during the period. Intech Investment Management LLC's holdings in Public Storage were worth $6,370,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Retirement Planning Co of New England Inc. lifted its position in shares of Public Storage by 1.6% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust's stock worth $624,000 after purchasing an additional 33 shares during the period. Shum Financial Group Inc. lifted its position in shares of Public Storage by 1.7% in the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust's stock worth $625,000 after purchasing an additional 35 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Public Storage by 3.1% in the 1st quarter. Meeder Asset Management Inc. now owns 1,295 shares of the real estate investment trust's stock worth $388,000 after purchasing an additional 39 shares during the period. Meeder Advisory Services Inc. lifted its position in shares of Public Storage by 1.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust's stock worth $1,072,000 after purchasing an additional 39 shares during the period. Finally, ICW Investment Advisors LLC lifted its position in shares of Public Storage by 1.0% in the 1st quarter. ICW Investment Advisors LLC now owns 3,901 shares of the real estate investment trust's stock worth $1,168,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

PSA opened at $295.06 on Friday. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. 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 company has a market cap of $51.77 billion, a P/E ratio of 32.18, a price-to-earnings-growth ratio of 4.79 and a beta of 0.86. The firm's 50-day moving average price is $287.47 and its 200-day moving average price is $293.67.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company posted $4.23 earnings per share. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, equities analysts anticipate that Public Storage will post 16.7 EPS 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. The ex-dividend date is Monday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. Public Storage's dividend payout ratio is 130.86%.

Wall Street Analyst Weigh In

PSA has been the subject of several research reports. BMO Capital Markets cut shares of Public Storage from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. BNP Paribas Exane began coverage on shares of Public Storage in a report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 price target on the stock. Scotiabank lowered their price target on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 28th. Barclays lowered their price target 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, Wells Fargo & Company lowered their price target on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. One investment 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 data from MarketBeat, the stock 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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