Public Storage $PSA Shares Purchased by Flputnam Investment Management Co.

Key Points

• Flputnam Investment Management Co. increased its stake in Public Storage (NYSE:PSA) by 2.2%, owning a total of 81,320 shares valued at approximately $24.34 million at the end of the last quarter.
• Several institutional investors have shown significant interest, with Nuveen LLC investing $271.2 million and GAMMA Investing LLC raising its holdings by over 34,000% during the same time period.
• The company announced a quarterly dividend of $3.00, equating to an annual yield of 4.1%, despite having a high dividend payout ratio of 130.86%.

Flputnam Investment Management Co. grew its stake in shares of Public Storage (NYSE:PSA - Free Report) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,320 shares of the real estate investment trust's stock after acquiring an additional 1,756 shares during the quarter. Flputnam Investment Management Co.'s holdings in Public Storage were worth $24,338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PSA. Nuveen LLC acquired a new position in shares of Public Storage during the 1st quarter valued at about $271,196,000. GAMMA Investing LLC boosted its holdings in Public Storage by 34,827.1% in the 1st quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust's stock worth $157,114,000 after acquiring an additional 523,452 shares during the period. Deutsche Bank AG boosted its stake in shares of Public Storage by 44.6% during the 4th quarter. Deutsche Bank AG now owns 1,407,754 shares of the real estate investment trust's stock valued at $421,538,000 after buying an additional 433,918 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Public Storage during the 4th quarter valued at approximately $99,157,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Public Storage during the 4th quarter valued at approximately $60,742,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada dropped 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 Exane initiated coverage on Public Storage in a research note on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price for the company. Wells Fargo & Company decreased their target price on Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Bank of America raised their price objective on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Scotiabank decreased their target price on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $331.62.

Public Storage Price Performance

Public Storage stock opened at $294.72 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $51.71 billion, a P/E ratio of 32.14, a P/E/G ratio of 4.89 and a beta of 0.86. The business's fifty day moving average is $287.69 and its two-hundred day moving average is $294.09. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm posted $4.23 earnings per share. The firm'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. Equities research analysts forecast 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. Investors of record on Monday, September 15th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Public Storage's dividend payout ratio (DPR) is currently 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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