Knights of Columbus Asset Advisors LLC Sells 936 Shares of Public Storage $PSA

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Public Storage (NYSE: PSA) by 5%, selling 936 shares during the second quarter, bringing its total ownership to 17,948 shares valued at approximately $5.27 million.
• Various brokerages have adjusted their ratings and price targets for Public Storage, with BMO Capital Markets lowering its target to $325 and BNP Paribas upgrading the stock to a "strong-buy" rating.
• Public Storage recently declared a quarterly dividend of $3.00, resulting in a 4.1% yield, though its dividend payout ratio stands at a high 130.86%.

Knights of Columbus Asset Advisors LLC decreased its position in shares of Public Storage (NYSE:PSA - Free Report) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,948 shares of the real estate investment trust's stock after selling 936 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Public Storage were worth $5,266,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Public Storage by 0.7% in 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 raised 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 worth $894,177,000 after buying an additional 30,775 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Public Storage by 1.2% in the first 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 boosted its holdings in shares of Public Storage by 2.8% in the first 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 during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Public Storage by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust's stock worth $638,805,000 after acquiring an additional 12,204 shares during the period. Institutional investors own 78.79% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PSA. BMO Capital Markets lowered Public Storage from an "outperform" rating to a "market perform" rating and cut their price target for the company from $340.00 to $325.00 in a report on Friday, June 20th. Barclays reduced their target price on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Evercore ISI raised their price objective on Public Storage from $312.00 to $317.00 and gave the company a "cautious" rating in a report on Friday. JPMorgan Chase & Co. reduced their price target on Public Storage from $324.00 to $321.00 and set an "overweight" rating for the company in a research report on Friday, September 12th. Finally, BNP Paribas upgraded Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $322.92.

Public Storage Stock Performance

NYSE PSA opened at $293.74 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The company has a fifty day simple moving average of $286.68 and a 200 day simple moving average of $291.43. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87. The company has a market cap of $51.54 billion, a P/E ratio of 32.03, a PEG ratio of 4.87 and a beta of 0.89.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the company earned $4.23 earnings per share. The business's revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Sell-side analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $3.00 dividend. The ex-dividend date was Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.1%. Public Storage's dividend payout ratio (DPR) is 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.

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