3,757 Shares in Public Storage $PSA Acquired by Jump Financial LLC

Key Points

• Jump Financial LLC acquired a new stake of 3,757 shares in Public Storage (NYSE:PSA), valued at around $1,124,000, during the first quarter of the year.
• Public Storage announced a quarterly dividend of $3.00 per share, resulting in an annualized dividend of $12.00 and a dividend yield of 4.1%.
• The company reported earnings of $4.28 per share for the last quarter, surpassing analysts' expectations and reflecting a 2.4% year-over-year revenue growth.

Jump Financial LLC purchased a new stake in Public Storage (NYSE:PSA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,757 shares of the real estate investment trust's stock, valued at approximately $1,124,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Shum Financial Group Inc. grew 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 valued at $625,000 after acquiring an additional 35 shares during the period. Lido Advisors LLC boosted its holdings in shares of Public Storage by 0.9% during the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock worth $1,287,000 after buying an additional 39 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Public Storage by 3.1% during the 1st quarter. Meeder Asset Management Inc. now owns 1,295 shares of the real estate investment trust's stock worth $388,000 after buying an additional 39 shares during the period. Meeder Advisory Services Inc. boosted its holdings in shares of Public Storage by 1.1% during 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 buying an additional 39 shares during the period. Finally, Integrated Advisors Network LLC boosted its holdings in shares of Public Storage by 1.4% during the 4th quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust's stock worth $918,000 after buying an additional 41 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on PSA shares. Wall Street Zen downgraded shares of Public Storage from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. BNP Paribas Exane started coverage on shares of Public Storage in a report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price for the company. Royal Bank Of Canada cut 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. Scotiabank cut their price objective on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating for the company in a report on Thursday, August 28th. Finally, BMO Capital Markets downgraded shares of Public Storage from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $340.00 to $325.00 in a report on Friday, June 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $331.62.

Public Storage Price Performance

Shares of NYSE:PSA traded up $3.24 during midday trading on Wednesday, hitting $291.42. The stock had a trading volume of 296,805 shares, compared to its average volume of 791,888. The company's 50-day moving average price is $287.53 and its 200-day moving average price is $293.98. The company has a market capitalization of $51.13 billion, a P/E ratio of 31.76, a price-to-earnings-growth ratio of 4.89 and a beta of 0.86. 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 fifty-two week low of $256.60 and a fifty-two week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. 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 company earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, equities research analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $3.00 dividend. 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 payout ratio is presently 130.86%.

Public Storage Company 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.