Public Storage $PSA Stake Raised by Focus Partners Wealth

Key Points

• Focus Partners Wealth increased their stake in Public Storage (NYSE: PSA) by 14.8%, owning 16,036 shares valued at approximately $4.8 million.
• Public Storage reported $4.28 EPS in their last quarterly earnings, exceeding estimates by $0.05, with revenue of $1.20 billion.
• The company declared a quarterly dividend of $3.00 per share, which corresponds to an annualized dividend of $12.00 and a yield of 4.1%.

Focus Partners Wealth grew its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 14.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,036 shares of the real estate investment trust's stock after buying an additional 2,065 shares during the period. Focus Partners Wealth's holdings in Public Storage were worth $4,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PSA. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Public Storage during the fourth quarter valued at approximately $43,000. Royal Bank of Canada raised its holdings in shares of Public Storage by 4.6% during the fourth quarter. Royal Bank of Canada now owns 830,203 shares of the real estate investment trust's stock valued at $248,595,000 after buying an additional 36,259 shares during the last quarter. Snowden Capital Advisors LLC raised its holdings in shares of Public Storage by 4.0% during the fourth quarter. Snowden Capital Advisors LLC now owns 4,075 shares of the real estate investment trust's stock valued at $1,220,000 after buying an additional 156 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Public Storage by 7.4% during the fourth quarter. Toronto Dominion Bank now owns 84,290 shares of the real estate investment trust's stock valued at $25,240,000 after buying an additional 5,819 shares during the last quarter. Finally, State of Wyoming raised its holdings in shares of Public Storage by 28.6% during the fourth quarter. State of Wyoming now owns 256 shares of the real estate investment trust's stock valued at $77,000 after buying an additional 57 shares during the last quarter. Institutional investors own 78.79% of the company's stock.

Public Storage Trading Down 0.8%

NYSE PSA opened at $292.71 on Monday. Public Storage has a twelve month low of $256.60 and a twelve month 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 stock has a market cap of $51.36 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 4.85 and a beta of 0.86. The firm's 50 day moving average price is $287.40 and its two-hundred day moving average price is $293.40.

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 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 firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the company posted $4.23 EPS. The company's quarterly 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 analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The business 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 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, September 15th. Public Storage's payout ratio is currently 130.86%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PSA. Scotiabank cut their price target on Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 28th. Mizuho boosted their target price on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Wall Street Zen cut Public Storage from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Evercore ISI boosted their target price on Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a report on Monday, August 4th. Finally, Barclays dropped their target price on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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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