Triton Financial Group Inc Takes $577,000 Position in Public Storage $PSA

Key Points

• Triton Financial Group Inc has taken a new position in Public Storage, acquiring 1,965 shares valued at approximately $577,000.
• Public Storage's recent earnings report showed an earnings per share of $4.28, exceeding the consensus estimate by $0.05, while revenue reached $1.20 billion.
• The company declared a quarterly dividend of $3.00 per share, resulting in a 3.8% yield, despite having a high dividend payout ratio of 130.86%.

Triton Financial Group Inc bought a new position in shares of Public Storage (NYSE:PSA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,965 shares of the real estate investment trust's stock, valued at approximately $577,000.

Several other large investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Public Storage in the first quarter worth $271,196,000. Goldman Sachs Group Inc. grew its position in Public Storage by 68.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust's stock worth $348,670,000 after buying an additional 475,342 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Public Storage in the 2nd quarter worth about $94,297,000. Vanguard Group Inc. raised its holdings in shares of Public Storage by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock valued at $6,206,046,000 after acquiring an additional 143,575 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Public Storage by 9.8% during the 1st quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust's stock valued at $462,774,000 after acquiring an additional 138,486 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PSA shares. JPMorgan Chase & Co. decreased their price objective on shares of Public Storage from $324.00 to $321.00 and set an "overweight" rating on the stock in a research report on Friday, September 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Public Storage in a report on Wednesday, October 8th. Royal Bank Of Canada lowered their price objective on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. BNP Paribas Exane assumed coverage on shares of Public Storage in a research report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price for the company. Finally, Evercore ISI increased their target price on Public Storage from $312.00 to $317.00 and gave the company a "cautious" rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of "Moderate Buy" and an average target price of $324.92.

Public Storage Stock Performance

NYSE PSA opened at $311.70 on Tuesday. The firm has a market cap of $54.69 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 5.02 and a beta of 0.89. The company has a 50-day simple moving average of $290.41 and a two-hundred day simple moving average of $291.90. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87.

Public Storage (NYSE:PSA - Get Free Report) last issued 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 return on equity of 34.06% and a net margin of 38.13%.The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. Public Storage's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.8%. 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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