Pensionfund DSM Netherlands Has $6.16 Million Stake in Public Storage $PSA

Key Points

• Pensionfund DSM Netherlands has reduced its stake in Public Storage (NYSE:PSA) by 11.2%, owning approximately $6.16 million worth of 20,589 shares, making it the firm's 7th largest holding.
• The company reported $4.28 earnings per share for the quarter, exceeding analysts' expectations, and declared a quarterly dividend of $3.00, translating to an annual yield of 4.1%.
• Analysts have mixed ratings on Public Storage, with one strong buy, seven buys, and six holds, and an average target price of $331.62 per share.

Pensionfund DSM Netherlands cut its stake in Public Storage (NYSE:PSA - Free Report) by 11.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,589 shares of the real estate investment trust's stock after selling 2,600 shares during the quarter. Public Storage accounts for about 4.1% of Pensionfund DSM Netherlands' investment portfolio, making the stock its 7th largest holding. Pensionfund DSM Netherlands' holdings in Public Storage were worth $6,162,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PSA. Ameriflex Group Inc. bought a new stake in shares of Public Storage in the fourth quarter worth approximately $30,000. Spectrum Wealth Counsel LLC bought a new stake in shares of Public Storage in the first quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Public Storage in the first quarter worth approximately $36,000. Wayfinding Financial LLC bought a new stake in shares of Public Storage in the first quarter worth approximately $41,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Public Storage in the fourth quarter worth approximately $43,000. 78.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on PSA. Wall Street Zen lowered shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Mizuho lifted their price target on shares of Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Barclays cut their target price on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. BNP Paribas Exane assumed coverage on shares of Public Storage in a research report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price for the company. Finally, BMO Capital Markets lowered shares of Public Storage from an "outperform" rating to a "market perform" rating and cut their target price for the company from $340.00 to $325.00 in a research report on Friday, June 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $331.62.

Public Storage Stock Performance

PSA opened at $292.71 on Friday. The firm has a market cap of $51.36 billion, a P/E ratio of 31.92, a PEG ratio of 4.90 and a beta of 0.86. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The company has a 50 day simple moving average of $287.40 and a two-hundred day simple moving average of $293.56. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77.

Public Storage (NYSE:PSA - Get Free Report) last posted 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 analyst estimates of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, September 15th. Public Storage's dividend 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.

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