Public Storage $PSA Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Public Storage (NYSE: PSA) by 7.9%, owning approximately 0.21% of the company valued at $103.94 million following the acquisition of 26,409 additional shares.
• Analysts have varying ratings for Public Storage, with one analyst giving it a Strong Buy rating, whereas Wall Street Zen downgraded it from "hold" to "sell," leading to average target estimates around $322.92.
• Public Storage recently declared a quarterly dividend of $3.00, representing an annualized dividend of $12.00 with a yield of 4.1%, while the company's payout ratio stands at a high 130.86%.

Aberdeen Group plc increased its stake in Public Storage (NYSE:PSA - Free Report) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 360,223 shares of the real estate investment trust's stock after acquiring an additional 26,409 shares during the period. Aberdeen Group plc owned approximately 0.21% of Public Storage worth $103,941,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PSA. Park Avenue Securities LLC boosted its position in shares of Public Storage by 18.9% in the first quarter. Park Avenue Securities LLC now owns 3,725 shares of the real estate investment trust's stock worth $1,115,000 after acquiring an additional 592 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Public Storage by 28.6% in the first quarter. Farther Finance Advisors LLC now owns 2,246 shares of the real estate investment trust's stock valued at $671,000 after buying an additional 499 shares during the period. GAMMA Investing LLC raised its holdings in Public Storage by 16.7% in the first quarter. GAMMA Investing LLC now owns 1,754 shares of the real estate investment trust's stock valued at $525,000 after buying an additional 251 shares during the period. CX Institutional raised its holdings in Public Storage by 14.8% in the first quarter. CX Institutional now owns 1,454 shares of the real estate investment trust's stock valued at $435,000 after buying an additional 188 shares during the period. Finally, Focus Financial Network Inc. purchased a new position in Public Storage in the first quarter valued at approximately $200,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSA has been the topic of several research reports. Wall Street Zen lowered shares of Public Storage from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Wells Fargo & Company cut their price target on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Scotiabank dropped their price objective on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a research note on Thursday, August 28th. BMO Capital Markets lowered shares of Public Storage from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $340.00 to $325.00 in a research note on Friday, June 20th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Public Storage in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $322.92.

Public Storage Stock Up 0.1%

Shares of NYSE:PSA opened at $294.19 on Friday. 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 $287.61 and a 200 day simple moving average of $291.49. The firm has a market cap of $51.62 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 4.88 and a beta of 0.89. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) 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 business's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities research analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid 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 was Monday, September 15th. Public Storage's payout ratio is 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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