Swedbank AB Grows Stock Position 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 boosted its position in Public Storage (NYSE:PSA - Free Report) by 6.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 171,349 shares of the real estate investment trust's stock after purchasing an additional 10,209 shares during the quarter. Swedbank AB owned about 0.10% of Public Storage worth $50,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Retirement Planning Co of New England Inc. increased its stake 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 last quarter. Shum Financial Group Inc. increased its stake 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 valued at $625,000 after acquiring an additional 35 shares during the last quarter. Meeder Asset Management Inc. increased its stake 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 valued at $388,000 after acquiring an additional 39 shares during the last quarter. Meeder Advisory Services Inc. increased its stake 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 valued at $1,072,000 after acquiring an additional 39 shares during the last quarter. Finally, ICW Investment Advisors LLC increased its stake 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 valued at $1,168,000 after acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analyst Weigh In

PSA has been the subject of a number of research analyst reports. BMO Capital Markets downgraded shares of Public Storage from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $340.00 to $325.00 in a research note on Friday, June 20th. JPMorgan Chase & Co. dropped their price objective on shares of Public Storage from $324.00 to $321.00 and set an "overweight" rating for the company in a research note on Friday, September 12th. Royal Bank Of Canada dropped their price objective on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Evercore ISI boosted their target price on Public Storage from $309.00 to $312.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Finally, Wells Fargo & Company decreased their target price on Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $322.00.

Public Storage Stock Up 0.5%

NYSE PSA traded up $1.26 on Monday, reaching $280.26. The company had a trading volume of 1,309,647 shares, compared to its average volume of 769,528. The firm has a market capitalization of $49.17 billion, a PE ratio of 30.56, a P/E/G ratio of 4.63 and a beta of 0.86. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The firm has a 50-day moving average of $286.62 and a 200-day moving average of $292.31. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.23 by $0.05. The firm 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%.Public Storage's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities research analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, September 15th. Public Storage's dividend payout ratio is currently 130.86%.

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.