Public Storage $PSA Stake Increased by Valeo Financial Advisors LLC

Key Points

• Valeo Financial Advisors LLC significantly increased its stake in Public Storage by 6,708% during the second quarter, now owning 89,389 shares valued at approximately $26.23 million.
• A variety of hedge funds, including Vanguard Group Inc. and Wellington Management Group LLP, have also recently adjusted their positions in Public Storage, reflecting strong institutional interest with 78.79% of the stock being held by institutions.
• Public Storage declared a quarterly dividend of <$3.00> per share, resulting in an annualized dividend of $12.00 and a yield of 4.1%, indicating a strong return for shareholders despite a high dividend payout ratio of 130.86%.

Valeo Financial Advisors LLC increased its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 6,708.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,389 shares of the real estate investment trust's stock after buying an additional 88,076 shares during the quarter. Valeo Financial Advisors LLC owned 0.05% of Public Storage worth $26,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PSA. Vanguard Group Inc. lifted its position in shares of Public Storage by 0.7% in the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock worth $6,206,046,000 after purchasing an additional 143,575 shares in the last quarter. Wellington Management Group LLP lifted its position in Public Storage by 1.0% in the 1st quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust's stock worth $894,177,000 after buying an additional 30,775 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Public Storage by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust's stock worth $848,425,000 after buying an additional 34,718 shares in the last quarter. Northern Trust Corp boosted its stake 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 buying an additional 69,882 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PSA shares. BNP Paribas Exane began coverage on Public Storage in a research note on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price on the stock. BNP Paribas raised Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Barclays cut their price objective on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Public Storage in a research report on Saturday, September 27th. Finally, Wall Street Zen downgraded shares of Public Storage from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $322.92.

Public Storage Trading Up 1.6%

Shares of PSA opened at $293.74 on Monday. The stock's 50-day moving average price is $286.68 and its 200 day moving average price is $291.43. 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 firm has a market capitalization of $51.54 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 4.87 and a beta of 0.89. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm earned $4.23 EPS. 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. As a group, research analysts predict 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 was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.1%. Public Storage's dividend payout ratio (DPR) is presently 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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