Vanderbilt University Lowers Holdings in Public Storage $PSA

Key Points

• Vanderbilt University reduced its holdings in Public Storage (PSA) by 58.7%, owning only 4,486 shares after selling 6,373 shares in the second quarter, valued at approximately $1.3 million.
• Public Storage announced a quarterly dividend of $3.00, representing an annualized yield of 4.1%, with a payout ratio of 130.86%.
• In its latest quarterly earnings, Public Storage reported $4.28 EPS, beating analyst estimates by $0.05, with a revenue of $1.20 billion reflecting a year-over-year increase of 2.4%.

Vanderbilt University decreased its position in Public Storage (NYSE:PSA - Free Report) by 58.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,486 shares of the real estate investment trust's stock after selling 6,373 shares during the period. Vanderbilt University's holdings in Public Storage were worth $1,316,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Public Storage by 0.7% in the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock worth $6,206,046,000 after buying an additional 143,575 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Public Storage by 1.0% during the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust's stock worth $894,177,000 after purchasing an additional 30,775 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Public Storage by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust's stock valued at $848,425,000 after buying an additional 34,718 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Public Storage by 2.8% during the first quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust's stock valued at $762,135,000 after buying an additional 69,882 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Public Storage by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust's stock valued at $638,805,000 after buying an additional 12,204 shares during the last quarter. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of PSA stock opened at $289.24 on Friday. 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 52 week low of $256.60 and a 52 week high of $356.16. The stock has a market capitalization of $50.75 billion, a PE ratio of 31.54, a P/E/G ratio of 4.82 and a beta of 0.90. The firm has a 50 day moving average of $286.56 and a two-hundred day moving average of $291.53.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business earned $4.23 EPS. The company's 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. On average, research analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $3.00 dividend. The ex-dividend date was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. Public Storage's payout ratio is currently 130.86%.

Wall Street Analyst Weigh In

PSA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Public Storage from $324.00 to $321.00 and set an "overweight" rating on the stock in a report on Friday, September 12th. Wall Street Zen lowered shares of Public Storage from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Evercore ISI boosted their price objective on shares of Public Storage from $309.00 to $312.00 and gave the company an "in-line" rating in a report on Monday, September 15th. Scotiabank dropped their price objective on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 28th. Finally, BMO Capital Markets lowered shares of Public Storage from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $340.00 to $325.00 in a report on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of "Moderate Buy" and an average price target of $322.54.

Public Storage Company 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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