PGGM Investments Has $38.07 Million Position in Public Storage $PSA

Key Points

• PGGM Investments decreased its holdings in Public Storage ($PSA) by 15.2%, now owning 129,760 shares valued at approximately $38.07 million.
• Recent analyst ratings show mixed opinions on PSA, with price targets ranging from $295.00 to $325.00 after several downgrades and upgrades from various financial institutions.
• Public Storage reported a quarterly earnings per share of $4.28, exceeding analysts' expectations and announced a quarterly dividend of $3.00, yielding 4.2%.

PGGM Investments lowered its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 15.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,760 shares of the real estate investment trust's stock after selling 23,279 shares during the quarter. PGGM Investments owned 0.07% of Public Storage worth $38,074,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of Public Storage during the second quarter worth about $25,000. Spectrum Wealth Counsel LLC acquired a new stake in shares of Public Storage during the first quarter worth about $30,000. Opal Wealth Advisors LLC bought a new position in shares of Public Storage during the first quarter worth about $36,000. Wayfinding Financial LLC bought a new position in shares of Public Storage during the first quarter worth about $41,000. Finally, Winch Advisory Services LLC grew its holdings in shares of Public Storage by 39.8% during the first quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust's stock worth $45,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PSA. BMO Capital Markets downgraded Public Storage from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $340.00 to $325.00 in a report on Friday, June 20th. Wells Fargo & Company decreased their price objective on Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. JPMorgan Chase & Co. decreased their price objective on Public Storage from $324.00 to $321.00 and set an "overweight" rating for the company in a report on Friday, September 12th. UBS Group decreased their price target on Public Storage from $305.00 to $295.00 and set a "neutral" rating for the company in a research note on Tuesday, September 16th. Finally, Evercore ISI raised their price target on Public Storage from $309.00 to $312.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $322.00.

Public Storage Stock Performance

NYSE:PSA opened at $288.76 on Wednesday. The stock has a market cap of $50.66 billion, a P/E ratio of 31.49, a PEG ratio of 4.79 and a beta of 0.86. The stock has a 50 day simple moving average of $286.51 and a 200 day simple moving average of $291.61. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99.

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 the consensus estimate 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 firm's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Research analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.2%. Public Storage's payout ratio is currently 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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