Natixis Advisors LLC Raises Holdings in Public Storage (NYSE:PSA)

Key Points

• Natixis Advisors LLC increased its holdings in Public Storage (NYSE:PSA) by 9.5%, owning 85,683 shares valued at approximately $25.64 million after purchasing an additional 7,407 shares in the first quarter.
• Public Storage reported $4.28 earnings per share for the last quarter, surpassing the consensus estimate of $4.23, while revenue remained stable at $1.20 billion.
• The company's recent quarterly dividend was $3.00 per share, resulting in an annualized yield of 4.3%, although the dividend payout ratio stands at a high 130.86%.

Natixis Advisors LLC increased its position in shares of Public Storage (NYSE:PSA - Free Report) by 9.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,683 shares of the real estate investment trust's stock after purchasing an additional 7,407 shares during the quarter. Natixis Advisors LLC's holdings in Public Storage were worth $25,644,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new stake in shares of Public Storage during the fourth quarter worth approximately $30,000. Spectrum Wealth Counsel LLC purchased a new stake in shares of Public Storage during the first quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Public Storage during the fourth quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Public Storage during the first quarter worth approximately $36,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of Public Storage during the fourth quarter worth approximately $38,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Performance

NYSE PSA opened at $279.34 on Friday. The stock has a market cap of $49.00 billion, a PE ratio of 30.46, a P/E/G ratio of 3.97 and a beta of 0.86. The company has a current ratio of 1.77, a quick ratio of 0.55 and a debt-to-equity ratio of 2.04. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The stock has a fifty day simple moving average of $293.33 and a 200-day simple moving average of $295.77.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share 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 analysts' expectations 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 was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.23 EPS. Equities analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Thursday, June 12th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.3%. Public Storage's dividend payout ratio is presently 130.86%.

Wall Street Analysts Forecast Growth

PSA has been the subject of several research reports. BMO Capital Markets cut Public Storage from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a report on Thursday, April 10th. Wells Fargo & Company dropped their target price on Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. BNP Paribas Exane assumed coverage on Public Storage in a report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price for the company. Finally, Scotiabank upped their target price on Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Public Storage has an average rating of "Moderate Buy" and a consensus price target of $335.57.

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.

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