Public Storage $PSA Stake Boosted by Swedbank AB

Key Points

• Swedbank AB increased its stake in Public Storage by 1.0% in Q1, now owning 161,140 shares worth approximately $48.2 million.
• Public Storage reported earnings of $4.28 per share for the last quarter, surpassing the consensus estimate of $4.23, alongside a revenue of $1.20 billion.
• The company declared a quarterly dividend of $3.00 per share with a 4.1% yield, reflecting its strong financial position despite a payout ratio of 130.86%.

Swedbank AB grew its stake in shares of Public Storage (NYSE:PSA - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,140 shares of the real estate investment trust's stock after acquiring an additional 1,563 shares during the period. Swedbank AB owned 0.09% of Public Storage worth $48,228,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PSA. D. E. Shaw & Co. Inc. lifted its stake in shares of Public Storage by 249.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 25,105 shares of the real estate investment trust's stock valued at $7,517,000 after purchasing an additional 17,923 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its stake in shares of Public Storage by 20.4% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 6,632 shares of the real estate investment trust's stock valued at $1,986,000 after purchasing an additional 1,122 shares during the last quarter. NorthRock Partners LLC acquired a new stake in shares of Public Storage in the 4th quarter valued at $667,000. Quantinno Capital Management LP lifted its stake in shares of Public Storage by 148.5% in the 4th quarter. Quantinno Capital Management LP now owns 28,309 shares of the real estate investment trust's stock valued at $8,477,000 after purchasing an additional 16,919 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Public Storage in the 4th quarter valued at $60,742,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Performance

NYSE:PSA opened at $292.71 on Friday. The firm's 50-day moving average is $287.40 and its 200-day moving average is $293.56. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. 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 company has a market cap of $51.36 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 4.90 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings data 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 net margin of 38.13% and a return on equity of 34.06%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm posted $4.23 EPS. The business's revenue 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 anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. Public Storage's payout ratio is presently 130.86%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PSA shares. BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Wall Street Zen lowered shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada dropped their target price on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Evercore ISI lifted their target price on shares of Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a report on Monday, August 4th. Finally, BNP Paribas Exane initiated coverage on shares of Public Storage in a report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price on the stock. 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $331.62.

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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