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Vanderbilt University Increases Stake in Public Storage (NYSE:PSA)

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Vanderbilt University grew its stake in shares of Public Storage (NYSE:PSA - Free Report) by 42.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,859 shares of the real estate investment trust's stock after purchasing an additional 3,210 shares during the period. Vanderbilt University's holdings in Public Storage were worth $3,250,000 as of its most recent SEC filing.

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

Public Storage Stock Up 1.7%

Public Storage stock traded up $4.92 during trading hours on Monday, hitting $295.00. The stock had a trading volume of 636,125 shares, compared to its average volume of 745,373. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.77. The stock's 50-day moving average price is $298.66 and its 200-day moving average price is $298.55. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99. The stock has a market capitalization of $51.75 billion, a P/E ratio of 29.29, a price-to-earnings-growth ratio of 4.20 and a beta of 0.89.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, beating the consensus estimate of $4.06 by $0.06. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.18 billion. During the same period in the previous year, the company earned $4.03 earnings per share. The firm's quarterly revenue was up .1% on a year-over-year basis. 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.07%. Public Storage's payout ratio is 119.17%.

Analysts Set New Price Targets

PSA has been the topic of several research reports. Scotiabank boosted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research note on Monday, May 12th. Barclays dropped their price objective on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Evercore ISI boosted their price objective on shares of Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a research note on Friday, May 2nd. Bank of America lifted their target price on shares of Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Mizuho lifted their target price on shares of Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $338.15.

Get Our Latest Analysis on Public Storage

Public Storage Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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