Public Storage $PSA Shares Purchased by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its holdings in Public Storage by 0.2% in Q1, owning approximately 1.2 million shares valued at $359.5 million.
• Public Storage reported a quarterly earnings per share (EPS) of $4.28, exceeding estimates, and its FY 2025 guidance is set between 16.450-17.00 EPS.
• PNP Paribas Exane has initiated coverage on Public Storage with an "outperform" rating and a target price of $331.00, while the stock has an average rating of "Moderate Buy" with a consensus price target of $335.43.

Ameriprise Financial Inc. lifted its stake in shares of Public Storage (NYSE:PSA - Free Report) by 0.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,201,167 shares of the real estate investment trust's stock after buying an additional 2,798 shares during the quarter. Ameriprise Financial Inc. owned about 0.68% of Public Storage worth $359,490,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. purchased a new stake in Public Storage in the 4th quarter valued at $30,000. Spectrum Wealth Counsel LLC purchased a new stake in Public Storage in the 1st quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage in the 1st quarter valued at $36,000. Parvin Asset Management LLC purchased a new stake in Public Storage in the 4th quarter valued at $38,000. Finally, Wayfinding Financial LLC purchased a new stake in Public Storage in the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on PSA shares. BMO Capital Markets downgraded shares of Public Storage from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $340.00 to $325.00 in a research report on Friday, June 20th. Bank of America upped their price target on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Evercore ISI upped their price target on shares of Public Storage from $308.00 to $309.00 and gave the company an "in-line" rating in a research report on Monday, August 4th. Finally, BNP Paribas Exane started coverage on shares of Public Storage in a research report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $335.43.

Public Storage Price Performance

Shares of NYSE:PSA traded up $2.42 on Wednesday, reaching $291.30. 129,474 shares of the company were exchanged, compared to its average volume of 793,466. 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 50-day moving average of $287.57 and a 200-day moving average of $294.30. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The firm has a market cap of $51.11 billion, a price-to-earnings ratio of 31.76, a price-to-earnings-growth ratio of 4.81 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1.20 billion. During the same period last year, the firm posted $4.23 EPS. The firm'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. Equities analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

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