Pensionfund Sabic Sells 1,800 Shares of Public Storage $PSA

Key Points

• Pensionfund Sabic has reduced its holdings in Public Storage (NYSE:PSA) by 15.0%, selling 1,800 shares to now own 10,213 shares, valued at approximately $3,057,000.
• Analyst ratings for Public Storage are mixed, with one strong buy, several buys, and some holds, as the average target price is currently $331.62.
• Public Storage has announced a quarterly dividend of $3.00 per share, with a dividend yield of 4.1% and a payout ratio of 130.86%.

Pensionfund Sabic lessened its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 15.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,213 shares of the real estate investment trust's stock after selling 1,800 shares during the period. Public Storage accounts for approximately 0.9% of Pensionfund Sabic's holdings, making the stock its 25th biggest position. Pensionfund Sabic's holdings in Public Storage were worth $3,057,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Retirement Planning Co of New England Inc. boosted its holdings in shares of Public Storage by 1.6% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust's stock valued at $624,000 after buying an additional 33 shares in the last quarter. Shum Financial Group Inc. raised 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 last quarter. Meeder Asset Management Inc. raised 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 last quarter. Meeder Advisory Services Inc. raised 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 last quarter. Finally, ICW Investment Advisors LLC raised 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 last quarter. Institutional investors own 78.79% of the company's stock.

Analysts Set New Price Targets

PSA has been the subject of several recent analyst reports. Evercore ISI lifted their price target on Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a research report on Monday, August 4th. Wall Street Zen lowered Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. BNP Paribas raised Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Barclays lowered their price target on Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Finally, BMO Capital Markets lowered 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. 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 company's stock. According to data from MarketBeat.com, Public Storage presently has an average rating of "Moderate Buy" and an average target price of $331.62.

Public Storage Stock Performance

Shares of PSA stock opened at $292.71 on Friday. The company has a 50 day moving average price of $287.40 and a 200-day moving average price of $293.56. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99. The firm has a market capitalization of $51.36 billion, a PE ratio of 31.92, a P/E/G ratio of 4.90 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 (NYSE:PSA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping 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 analyst estimates of $1.20 billion. During the same period in the previous year, the business posted $4.23 earnings per share. The business's revenue for the quarter was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, equities research analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend 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 presently 130.86%.

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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