Public Storage $PSA Shares Bought by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC increased its holdings in Public Storage (NYSE:PSA) by 3.6%, bringing its total shares to 135,069, valued at approximately $40.44 million.
• Public Storage reported $4.28 EPS for the last quarter, exceeding analysts' expectations, while its revenue remained stable at $1.20 billion, up 2.4% year-over-year.
• The company declared a quarterly dividend of $3.00 per share, which results in a yield of 4.0%, with a payout ratio currently at 130.86%.

Great Lakes Advisors LLC grew its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 3.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 135,069 shares of the real estate investment trust's stock after acquiring an additional 4,701 shares during the quarter. Great Lakes Advisors LLC owned about 0.08% of Public Storage worth $40,440,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in Public Storage by 12.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust's stock worth $13,240,000 after acquiring an additional 4,746 shares during the period. Brighton Jones LLC boosted its position in Public Storage by 9.7% during the 1st quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust's stock worth $517,000 after acquiring an additional 152 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Public Storage by 1.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust's stock worth $92,960,000 after buying an additional 3,627 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Public Storage by 228.1% in the 1st quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust's stock worth $640,000 after buying an additional 1,487 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its stake in shares of Public Storage by 43.3% in the 1st quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust's stock worth $1,083,000 after buying an additional 1,093 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America boosted their price objective on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Evercore ISI boosted their price objective on Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a research note on Monday, August 4th. Mizuho boosted their price objective on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Barclays dropped their price objective on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, BNP Paribas Exane assumed coverage on Public Storage in a research note on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 price objective on the stock. One 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. According to MarketBeat, Public Storage has an average rating of "Moderate Buy" and a consensus target price of $331.62.

Public Storage Stock Up 1.9%

Shares of Public Storage stock opened at $297.80 on Monday. The stock's fifty day moving average is $287.79 and its 200-day moving average is $293.84. The firm 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. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last announced its 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 company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.Public Storage's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period 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. Equities analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, September 15th. Public Storage's payout ratio is presently 130.86%.

Public Storage Company 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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