Strs Ohio Takes $35.18 Million Position in Public Storage $PSA

Key Points

• Strs Ohio has purchased a new stake in Public Storage (NYSE:PSA), acquiring 117,537 shares valued at approximately $35.18 million.
• The stock has received mixed ratings from analysts, with consensus suggesting a "Moderate Buy" rating and an average price target of $331.62.
• Public Storage recently declared a quarterly dividend of $3.00 per share, yielding 4.1%, with a dividend payout ratio of 130.86%.

Strs Ohio bought a new stake in shares of Public Storage (NYSE:PSA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 117,537 shares of the real estate investment trust's stock, valued at approximately $35,178,000. Strs Ohio owned 0.07% of Public Storage as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Retirement Planning Co of New England Inc. lifted its position in shares of Public Storage by 1.6% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust's stock valued at $624,000 after acquiring an additional 33 shares during the period. Shum Financial Group Inc. raised its holdings in shares of Public Storage by 1.7% during the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust's stock worth $625,000 after buying an additional 35 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Public Storage by 3.1% during the 1st quarter. Meeder Asset Management Inc. now owns 1,295 shares of the real estate investment trust's stock worth $388,000 after buying an additional 39 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of Public Storage by 1.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust's stock worth $1,072,000 after buying an additional 39 shares in the last quarter. Finally, ICW Investment Advisors LLC raised its holdings in shares of Public Storage by 1.0% during the 1st quarter. ICW Investment Advisors LLC now owns 3,901 shares of the real estate investment trust's stock worth $1,168,000 after buying an additional 39 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSA. 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 price target on Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a report on Monday, August 4th. BNP Paribas Exane began coverage on Public Storage in a report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 price target for the company. BNP Paribas raised Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada lowered their price target on Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. One equities research 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. Based on data from MarketBeat, Public Storage currently has a consensus rating of "Moderate Buy" and a consensus price target of $331.62.

Public Storage Trading Up 2.2%

Shares of PSA stock opened at $295.06 on Friday. The stock has a market cap of $51.77 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 4.79 and a beta of 0.86. The stock has a 50-day moving average of $287.47 and a 200-day moving average of $293.67. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The business's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

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 paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. Public Storage's dividend payout ratio is presently 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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