Public Storage $PSA Shares Bought by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its holdings in Public Storage by 16.5%, now owning 9,121 shares valued at approximately $2.73 million.
• Public Storage reported $4.28 earnings per share for the last quarter, surpassing analysts' expectations, with a revenue of $1.20 billion.
• The company declared a quarterly dividend of $3.00 per share, which translates to an annual yield of 4.1%, despite having a dividend payout ratio of 130.86%.

Vident Advisory LLC raised its holdings in Public Storage (NYSE:PSA - Free Report) by 16.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,121 shares of the real estate investment trust's stock after buying an additional 1,294 shares during the period. Vident Advisory LLC's holdings in Public Storage were worth $2,731,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new position in Public Storage in the 4th quarter valued at approximately $30,000. Spectrum Wealth Counsel LLC purchased a new position in Public Storage in the 1st quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new position in Public Storage in the 1st quarter valued at approximately $36,000. Wayfinding Financial LLC purchased a new position in Public Storage in the 1st quarter valued at approximately $41,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Public Storage in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Up 0.2%

NYSE:PSA traded up $0.44 during midday trading on Thursday, hitting $292.20. 692,968 shares of the company were exchanged, compared to its average volume of 792,978. The company has a fifty day simple moving average of $287.56 and a 200 day simple moving average of $293.96. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. 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 market capitalization of $51.27 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 4.89 and a beta of 0.86.

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 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 for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business earned $4.23 EPS. Public Storage's revenue for the quarter 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. As a group, equities analysts anticipate 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. Investors of record on Monday, September 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, September 15th. Public Storage's dividend payout ratio (DPR) is currently 130.86%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America raised 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. Wall Street Zen lowered shares of Public Storage from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. BMO Capital Markets lowered shares of Public Storage from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $340.00 to $325.00 in a report on Friday, June 20th. BNP Paribas Exane began coverage on shares of Public Storage in a report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 price objective on the stock. Finally, Royal Bank Of Canada reduced their price objective on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. One research 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $331.62.

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.