Public Storage $PSA Shares Purchased by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG increased its stake in Public Storage by 86.1% during the second quarter, owning 5,980 shares valued at $1,755,000 at the end of the reporting period.
• Public Storage reported $4.28 earnings per share for the quarter, exceeding estimates, with quarterly revenue of $1.20 billion, reflecting a 2.4% increase compared to the previous year.
• The company declared a quarterly dividend of $3.00 per share, resulting in a yield of 4.1%, despite a high payout ratio of 130.86%.

J. Safra Sarasin Holding AG grew its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 86.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,980 shares of the real estate investment trust's stock after purchasing an additional 2,766 shares during the period. J. Safra Sarasin Holding AG's holdings in Public Storage were worth $1,755,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Retirement Planning Co of New England Inc. increased its stake in Public Storage by 1.6% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust's stock valued at $624,000 after buying an additional 33 shares during the period. Shum Financial Group Inc. increased its stake in shares of Public Storage by 1.7% during the first quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust's stock valued at $625,000 after acquiring an additional 35 shares during the period. Whitener Capital Management Inc. increased its stake in shares of Public Storage by 2.3% during the second quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust's stock valued at $472,000 after acquiring an additional 36 shares during the period. Mather Group LLC. increased its stake in shares of Public Storage by 4.6% during the second quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust's stock valued at $253,000 after acquiring an additional 38 shares during the period. Finally, Meeder Advisory Services Inc. increased its position in shares of Public Storage by 1.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust's stock valued at $1,072,000 after purchasing an additional 39 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Up 1.6%

Shares of PSA opened at $293.74 on Friday. The business's 50-day moving average price is $286.68 and its 200 day moving average price is $291.49. The stock has a market capitalization of $51.54 billion, a P/E ratio of 32.03, a P/E/G ratio of 4.80 and a beta of 0.89. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04.

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 for the quarter, topping the consensus estimate of $4.23 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, September 15th. Public Storage's payout ratio is presently 130.86%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PSA. Wells Fargo & Company lowered their price target on Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. UBS Group lowered their target price on Public Storage from $305.00 to $295.00 and set a "neutral" rating on the stock in a report on Tuesday, September 16th. Scotiabank lowered their price objective on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a research note on Thursday, August 28th. Evercore ISI lifted their price objective on shares of Public Storage from $312.00 to $317.00 and gave the stock a "cautious" rating in a research note on Friday. Finally, Royal Bank Of Canada lowered 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 research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Public Storage has a consensus rating of "Moderate Buy" and an average target price of $322.92.

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.

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