UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Purchases 68,484 Shares of Public Storage $PSA

Key Points

• UBS Asset Management increased its stake in Public Storage by 4.0%, now owning approximately 1.01% of the company worth $530 million.
• Public Storage has announced a quarterly dividend of $3.00, resulting in an annualized dividend of $12.00 and a dividend yield of 4.1%.
• Several analysts have updated their price targets for Public Storage, with the average consensus target now set at $331.62, while one analyst rates it a Strong Buy.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Public Storage (NYSE:PSA - Free Report) by 4.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,771,006 shares of the real estate investment trust's stock after buying an additional 68,484 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 1.01% of Public Storage worth $530,044,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in shares of Public Storage in the 4th quarter valued at $30,000. Spectrum Wealth Counsel LLC acquired a new position in shares of Public Storage in the 1st quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage in the 1st quarter valued at $36,000. Wayfinding Financial LLC acquired a new position in shares of Public Storage in the 1st quarter valued at $41,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Public Storage in the 4th quarter valued at $43,000. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PSA. Barclays cut their price target 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. 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 note on Wednesday, July 23rd. BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. BNP Paribas Exane initiated coverage on shares of Public Storage in a research report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 price objective for the company. Finally, Scotiabank lowered their price objective on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating for the company in a research report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Public Storage has an average rating of "Moderate Buy" and an average price target of $331.62.

Public Storage Trading Down 0.8%

Shares of PSA traded down $2.21 during trading hours on Friday, reaching $292.71. The stock had a trading volume of 690,770 shares, compared to its average volume of 601,191. 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 52 week low of $256.60 and a 52 week high of $369.99. The firm has a 50-day moving average of $287.40 and a 200 day moving average of $293.56. The company has a market cap of $51.36 billion, a P/E ratio of 31.92, a P/E/G ratio of 4.90 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last released 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 firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company's revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, sell-side analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

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