Public Storage $PSA Holdings Lifted by Harvest Portfolios Group Inc.

Key Points

• Harvest Portfolios Group Inc. increased its stake in Public Storage by 40.3%, acquiring 1,502 additional shares, bringing their total to 5,227 shares valued at approximately $1,564,000.
• Public Storage reported an EPS of $4.28 for the last quarter, exceeding the analysts' expectations by $0.05, with a revenue of $1.20 billion.
• The company announced a quarterly dividend of $3.00, yielding 4.2%, and has a payout ratio of 130.86%.

Harvest Portfolios Group Inc. raised its holdings in Public Storage (NYSE:PSA - Free Report) by 40.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,227 shares of the real estate investment trust's stock after buying an additional 1,502 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in Public Storage were worth $1,564,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PSA. Nuveen LLC acquired a new position in shares of Public Storage in the 1st quarter valued at about $271,196,000. Northern Trust Corp lifted its stake in shares of Public Storage by 43.4% in the 4th quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust's stock valued at $741,592,000 after purchasing an additional 749,913 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of 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 valued at $157,114,000 after purchasing an additional 523,452 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Public Storage by 44.6% in 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 purchasing an additional 433,918 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Public Storage in the 4th quarter valued at about $99,157,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSA has been the topic of several research analyst reports. Barclays reduced 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. Royal Bank Of Canada reduced 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. Bank of America boosted their price target on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Evercore ISI boosted 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. Finally, Scotiabank reduced 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. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $331.62.

Public Storage Stock Performance

NYSE PSA traded up $3.05 during trading hours on Monday, hitting $294.72. The company had a trading volume of 519,329 shares, compared to its average volume of 648,565. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The business has a fifty day simple moving average of $287.69 and a 200-day simple moving average of $294.04. The firm has a market cap of $51.71 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 4.89 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share 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 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 company earned $4.23 earnings per share. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Public Storage's dividend payout ratio (DPR) is 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.