Vanguard Personalized Indexing Management LLC Acquires 2,973 Shares of Public Storage $PSA

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in Public Storage by 23.3%, acquiring an additional 2,973 shares, bringing its total ownership to 15,738 shares valued at approximately $4.6 million.
• Institutional investors own about 78.79% of Public Storage's shares, with several firms, including Vanguard Group and Wellington Management, increasing their stakes significantly during the first quarter.
• Public Storage reported a quarterly EPS of $4.28, exceeding analysts’ expectations, along with a recent declaration of a quarterly dividend of $3.00, which represents a 4.0% dividend yield.

Vanguard Personalized Indexing Management LLC grew its holdings in Public Storage (NYSE:PSA - Free Report) by 23.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,738 shares of the real estate investment trust's stock after purchasing an additional 2,973 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Public Storage were worth $4,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of 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 valued at $6,206,046,000 after purchasing an additional 143,575 shares during the period. Wellington Management Group LLP grew its stake in 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 valued at $894,177,000 after acquiring an additional 30,775 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 acquiring an additional 34,718 shares in the last quarter. Northern Trust Corp grew its stake in 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 acquiring an additional 69,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in 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 acquiring an additional 12,204 shares in the last quarter. Institutional investors own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BNP Paribas Exane assumed coverage on shares of Public Storage in a research note on Tuesday, June 24th. They set an "outperform" rating and a $331.00 price objective for the company. Wall Street Zen cut shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. BMO Capital Markets cut shares of Public Storage from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $340.00 to $325.00 in a research note on Friday, June 20th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $325.00 price objective for the company in a research note on Monday. Finally, JPMorgan Chase & Co. reduced 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $324.92.

Public Storage Price Performance

PSA stock opened at $299.69 on Tuesday. 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 has a one year low of $256.60 and a one year high of $355.87. The stock has a market cap of $52.58 billion, a PE ratio of 32.68, a P/E/G ratio of 4.88 and a beta of 0.89. The firm has a 50 day simple moving average of $288.00 and a two-hundred day simple moving average of $291.52.

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 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the company earned $4.23 EPS. The business's quarterly revenue was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, September 15th. Public Storage's payout ratio is presently 130.86%.

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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