VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Public Storage $PSA

Key Points

• Virginia Retirement Systems ET Al acquired a new stake in Public Storage, purchasing 321,371 shares valued at approximately $94 million, making it the 25th largest position in their portfolio.
• After several adjustments by institutional investors, 78.79% of Public Storage's stock is now owned by these entities, reflecting strong institutional interest in the company.
• Public Storage recently announced a $3.00 quarterly dividend, resulting in an annualized dividend yield of 3.9%, although their dividend payout ratio stands at a high 130.86%.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Public Storage (NYSE:PSA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 321,371 shares of the real estate investment trust's stock, valued at approximately $94,297,000. Public Storage accounts for 0.7% of VIRGINIA RETIREMENT SYSTEMS ET Al's portfolio, making the stock its 25th biggest position. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.18% of Public Storage as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Signature Estate & Investment Advisors LLC increased its position in Public Storage by 19.9% during the second quarter. Signature Estate & Investment Advisors LLC now owns 812 shares of the real estate investment trust's stock worth $238,000 after acquiring an additional 135 shares during the period. Quotient Wealth Partners LLC grew its position in shares of Public Storage by 19.0% during the 2nd quarter. Quotient Wealth Partners LLC now owns 1,054 shares of the real estate investment trust's stock worth $309,000 after purchasing an additional 168 shares in the last quarter. Aspiriant LLC bought a new position in shares of Public Storage during the second quarter worth approximately $210,000. Koshinski Asset Management Inc. increased its holdings in shares of Public Storage by 26.4% during the second quarter. Koshinski Asset Management Inc. now owns 1,654 shares of the real estate investment trust's stock worth $485,000 after purchasing an additional 345 shares during the period. Finally, Stanley Laman Group Ltd. raised its position in shares of Public Storage by 15.6% in the second quarter. Stanley Laman Group Ltd. now owns 1,560 shares of the real estate investment trust's stock valued at $458,000 after buying an additional 210 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSA has been the subject of several recent research reports. Barclays cut their price target on Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Wall Street Zen downgraded Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada reduced their target price on Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. BNP Paribas upgraded Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Finally, Evercore ISI upped their price objective on shares of Public Storage from $312.00 to $317.00 and gave the stock a "cautious" rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $324.92.

Public Storage Trading Up 0.3%

Shares of PSA opened at $307.77 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. The firm has a market cap of $54.00 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 5.02 and a beta of 0.89. The business's fifty day moving average is $289.77 and its 200-day moving average is $291.73.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.Public Storage's revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.9%. Public Storage's dividend 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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