Robeco Institutional Asset Management B.V. Cuts Stock Holdings in Public Storage $PSA

Robeco Institutional Asset Management B.V. decreased its stake in shares of Public Storage (NYSE:PSA - Free Report) by 26.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,644 shares of the real estate investment trust's stock after selling 2,702 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Public Storage were worth $2,243,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PSA. Marshall & Sullivan Inc. WA purchased a new position in Public Storage in the second quarter worth $25,000. Spectrum Wealth Counsel LLC purchased a new position in Public Storage in the first quarter worth $30,000. Opal Wealth Advisors LLC purchased a new position in Public Storage in the first quarter worth $36,000. Wayfinding Financial LLC purchased a new position in Public Storage in the first quarter worth $41,000. Finally, Rossby Financial LCC purchased a new position in Public Storage in the first quarter worth $45,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Wall Street Analyst Weigh In

PSA has been the topic of several research analyst reports. BNP Paribas Exane initiated coverage on Public Storage in a research report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 price objective on the stock. Wells Fargo & Company cut their price objective 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 cut their price objective 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, Weiss Ratings restated a "hold (c)" rating on shares of Public Storage in a research note on Saturday, September 27th. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $322.92.

Public Storage Stock Performance

NYSE:PSA opened at $293.31 on Wednesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. The firm has a market cap of $51.46 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 4.83 and a beta of 0.89. The business's fifty day moving average is $286.79 and its 200 day moving average is $291.44.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company posted $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. Research analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, September 15th. Public Storage's dividend payout ratio is currently 130.86%.

Public Storage 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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