Swedbank AB Raises Holdings in Public Storage $PSA

Key Points

• Swedbank AB has increased its stake in Public Storage by 6.3%, owning a total of 171,349 shares valued at approximately $50.3 million.
• Public Storage's quarterly earnings report showed an EPS of $4.28, exceeding analysts' expectations, while its revenue was $1.20 billion, matching forecasts.
• The company announced a $3.00 quarterly dividend, reflecting an annualized yield of 4.2%, with a dividend payout ratio currently at 130.86%.

Swedbank AB increased its stake in Public Storage (NYSE:PSA - Free Report) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,349 shares of the real estate investment trust's stock after buying an additional 10,209 shares during the period. Swedbank AB owned 0.10% of Public Storage worth $50,277,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Public Storage by 12.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust's stock worth $13,240,000 after acquiring an additional 4,746 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Public Storage by 9.7% in the first quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust's stock worth $517,000 after purchasing an additional 152 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Public Storage by 1.2% during the first quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust's stock valued at $92,960,000 after purchasing an additional 3,627 shares during the last quarter. Private Trust Co. NA raised its stake in Public Storage by 228.1% during the 1st quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust's stock valued at $640,000 after buying an additional 1,487 shares during the last quarter. Finally, Summit Trail Advisors LLC increased its position in Public Storage by 43.3% during the first quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust's stock valued at $1,083,000 after acquiring an additional 1,093 shares during the last quarter. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

PSA traded down $4.76 during trading on Friday, reaching $279.03. 2,155,961 shares of the company's stock were exchanged, compared to its average volume of 684,734. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $48.96 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 4.71 and a beta of 0.86. The company's fifty day simple moving average is $286.79 and its 200-day simple moving average is $292.79.

Public Storage (NYSE:PSA - Get Free Report) last posted its 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. 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 during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the firm earned $4.23 EPS. The business's quarterly revenue was up 2.4% on a year-over-year basis. 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 fiscal year.

Public Storage Announces Dividend

The firm also recently announced 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 of this dividend is Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.3%. Public Storage's dividend payout ratio is presently 130.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BNP Paribas upgraded Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. UBS Group cut their price target on Public Storage from $305.00 to $295.00 and set a "neutral" rating for the company in a report on Tuesday. Wells Fargo & Company lowered their price target on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. BMO Capital Markets cut shares of Public Storage from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $340.00 to $325.00 in a research report on Friday, June 20th. Finally, Evercore ISI upped their price objective on shares of Public Storage from $309.00 to $312.00 and gave the stock an "in-line" rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Public Storage has a consensus rating of "Moderate Buy" and an average target price of $322.00.

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.