Public Storage $PSA Stock Position Raised by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its position in shares of Public Storage (NYSE:PSA) by 28.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,196 shares of the real estate investment trust’s stock after purchasing an additional 1,615 shares during the period. iA Global Asset Management Inc.’s holdings in Public Storage were worth $2,111,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Planning Co of New England Inc. raised its stake in shares of Public Storage by 1.6% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock worth $624,000 after purchasing an additional 33 shares in the last quarter. Whitener Capital Management Inc. raised its stake in shares of Public Storage by 2.3% during the 2nd quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock worth $472,000 after purchasing an additional 36 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake in shares of Public Storage by 9.5% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 36 shares in the last quarter. Mather Group LLC. raised its stake in shares of Public Storage by 4.6% in the 2nd quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust’s stock valued at $253,000 after acquiring an additional 38 shares in the last quarter. Finally, Evermay Wealth Management LLC raised its stake in shares of Public Storage by 13.3% in the 2nd quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock valued at $95,000 after acquiring an additional 38 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

Public Storage stock opened at $277.06 on Tuesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $48.61 billion, a P/E ratio of 28.77, a P/E/G ratio of 4.72 and a beta of 0.89. The business’s fifty day moving average is $292.40 and its two-hundred day moving average is $292.97. Public Storage has a 52 week low of $256.60 and a 52 week high of $355.87.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s dividend payout ratio is 124.61%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PSA. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. JPMorgan Chase & Co. cut their price target on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, September 12th. UBS Group cut their price target on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price target for the company in a report on Monday, October 13th. Finally, Barclays cut their price target on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $325.38.

About Public Storage

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.