Public Storage $PSA Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. trimmed its holdings in shares of Public Storage (NYSE:PSA) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,754 shares of the real estate investment trust’s stock after selling 2,479 shares during the period. Flputnam Investment Management Co.’s holdings in Public Storage were worth $23,326,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PSA. Norges Bank purchased a new position in Public Storage in the second quarter worth $1,153,971,000. AQR Capital Management LLC boosted its position in shares of Public Storage by 498.7% during the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after purchasing an additional 481,872 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Public Storage by 68.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock worth $348,670,000 after purchasing an additional 475,342 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Public Storage in the 2nd quarter valued at about $94,297,000. Finally, 1832 Asset Management L.P. lifted its stake in shares of Public Storage by 375.7% in the second quarter. 1832 Asset Management L.P. now owns 389,169 shares of the real estate investment trust’s stock valued at $114,190,000 after purchasing an additional 307,357 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PSA. BMO Capital Markets lowered their target price on shares of Public Storage from $325.00 to $320.00 and set a “market perform” rating on the stock in a research report on Monday, November 24th. Scotiabank decreased their price target on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. Evercore ISI dropped their price objective on Public Storage from $315.00 to $309.00 and set an “in-line” rating for the company in a research note on Monday, December 1st. Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a report on Monday, October 13th. Finally, Mizuho lowered their target price on Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $319.87.

Public Storage Trading Down 0.8%

Shares of PSA opened at $259.26 on Friday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.45 and a quick ratio of 0.45. Public Storage has a 1-year low of $256.60 and a 1-year high of $322.49. The stock has a market cap of $45.49 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 5.55 and a beta of 1.01. The firm has a 50 day simple moving average of $280.39 and a 200-day simple moving average of $286.30.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.Public Storage’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities analysts forecast 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 will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.6%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.