Public Storage $PSA Shares Sold by Stephens Inc. AR

Key Points

• Stephens Inc. AR reduced its holdings in Public Storage (NYSE:PSA) by 6.1%, owning 29,086 shares worth approximately $8.94 million after selling 1,890 shares in the second quarter.
• Various institutional investors, including Vanguard Group Inc. and Wellington Management Group LLP, have increased their stakes in Public Storage, with institutional ownership now at 78.79% of the stock.
• Public Storage recently declared a quarterly dividend of $3.00, representing an annualized yield of 3.8%, and the company's share price was reported at $311.70.

Stephens Inc. AR trimmed its holdings in Public Storage (NYSE:PSA - Free Report) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,086 shares of the real estate investment trust's stock after selling 1,890 shares during the period. Stephens Inc. AR's holdings in Public Storage were worth $8,945,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Public Storage by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock valued at $6,206,046,000 after acquiring an additional 143,575 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Public Storage by 1.0% during the 1st quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust's stock valued at $894,177,000 after acquiring an additional 30,775 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Public Storage by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust's stock valued at $848,425,000 after acquiring an additional 34,718 shares in the last quarter. Northern Trust Corp raised its position in shares of Public Storage by 2.8% during the 1st quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust's stock valued at $762,135,000 after acquiring an additional 69,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Public Storage by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust's stock valued at $638,805,000 after acquiring an additional 12,204 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PSA shares. Weiss Ratings reissued a "hold (c)" rating on shares of Public Storage in a research report on Wednesday, October 8th. Wells Fargo & Company dropped 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. Scotiabank dropped 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, August 28th. BNP Paribas raised Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada dropped their target price 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $324.92.

Public Storage Price Performance

Shares of NYSE PSA opened at $311.70 on Tuesday. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The business's fifty day moving average price is $290.41 and its two-hundred day moving average price is $291.90. The firm has a market capitalization of $54.69 billion, a PE ratio of 33.99, a P/E/G ratio of 5.02 and a beta of 0.89.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) 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 company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the business posted $4.23 earnings per share. The company'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. On average, research analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. Public Storage's dividend payout ratio is presently 130.86%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.