Teacher Retirement System of Texas Has $13.99 Million Position in Public Storage (NYSE:PSA)

Teacher Retirement System of Texas lowered its stake in shares of Public Storage (NYSE:PSA - Free Report) by 53.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,756 shares of the real estate investment trust's stock after selling 54,648 shares during the quarter. Teacher Retirement System of Texas' holdings in Public Storage were worth $13,994,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PSA. Ameriflex Group Inc. bought a new stake in Public Storage during the fourth quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage during the fourth quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new stake in Public Storage during the first quarter worth approximately $36,000. Millstone Evans Group LLC bought a new stake in Public Storage during the fourth quarter worth approximately $38,000. Finally, Parvin Asset Management LLC bought a new stake in Public Storage during the fourth quarter worth approximately $38,000. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of NYSE PSA traded down $0.84 during trading hours on Friday, reaching $296.27. The stock had a trading volume of 742,606 shares, compared to its average volume of 752,007. The business's fifty day moving average is $298.90 and its two-hundred day moving average is $297.11. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $51.97 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 4.29 and a beta of 0.86. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. Public Storage's revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $4.03 earnings per share. As a group, research analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Thursday, June 12th were paid a dividend of $3.00 per share. The ex-dividend date was Thursday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.05%. Public Storage's dividend payout ratio is currently 119.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PSA shares. BNP Paribas Exane started coverage on Public Storage in a research report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price for the company. BMO Capital Markets cut Public Storage from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. Evercore ISI upped their price target on Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Royal Bank Of Canada cut their price target on Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Finally, Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target for the company in a report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $337.64.

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.