Public Storage $PSA Shares Acquired by UniSuper Management Pty Ltd

Key Points

• UniSuper Management Pty Ltd increased its holdings in Public Storage (NYSE: PSA) by 1.6%, acquiring an additional 900 shares and bringing its total to 57,821 shares valued at approximately $17.3 million.
• Analysts have issued mixed ratings for Public Storage, with price targets ranging from $309 to $340, and a consensus rating of "Moderate Buy" with an average target price of $331.62.
• Public Storage announced a quarterly dividend of $3.00, reflecting an annual yield of 4.0%, with a noted payout ratio of 130.86%.

UniSuper Management Pty Ltd lifted its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 1.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,821 shares of the real estate investment trust's stock after acquiring an additional 900 shares during the period. UniSuper Management Pty Ltd's holdings in Public Storage were worth $17,305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. acquired a new stake in shares of Public Storage during the 4th quarter worth about $30,000. Spectrum Wealth Counsel LLC acquired a new position in Public Storage during the first quarter worth approximately $30,000. Opal Wealth Advisors LLC acquired a new position in Public Storage during the first quarter worth approximately $36,000. Wayfinding Financial LLC acquired a new position in Public Storage during the first quarter worth approximately $41,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Public Storage during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on PSA shares. Wells Fargo & Company cut their price target on Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Scotiabank cut their price target on Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 28th. Royal Bank Of Canada cut their price target on Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. BNP Paribas raised Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Public Storage has a consensus rating of "Moderate Buy" and a consensus target price of $331.62.

Public Storage Price Performance

Public Storage stock opened at $297.80 on Monday. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The business has a 50 day simple moving average of $287.79 and a 200-day simple moving average of $293.84. The stock has a market capitalization of $52.25 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 4.94 and a beta of 0.86.

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 EPS for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the business earned $4.23 earnings per share. The company's quarterly revenue was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.0%. Public Storage's dividend payout ratio is presently 130.86%.

About Public Storage

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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