Public Storage (NYSE:PSA) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd trimmed its holdings in Public Storage (NYSE:PSA) by 0.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,381 shares of the real estate investment trust’s stock after selling 102 shares during the period. IFM Investors Pty Ltd’s holdings in Public Storage were worth $25,973,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PSA. Daiwa Securities Group Inc. grew its stake in Public Storage by 86.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 645,168 shares of the real estate investment trust’s stock valued at $187,137,000 after acquiring an additional 299,826 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Public Storage by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust’s stock valued at $319,270,000 after purchasing an additional 281,800 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Public Storage by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after purchasing an additional 219,391 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Public Storage by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after purchasing an additional 217,487 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Public Storage by 116.7% in the 2nd quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock valued at $111,077,000 after purchasing an additional 208,546 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Down 0.2 %

NYSE:PSA traded down $0.81 during trading hours on Thursday, hitting $338.96. The stock had a trading volume of 88,740 shares, compared to its average volume of 705,382. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. Public Storage has a 1-year low of $233.18 and a 1-year high of $369.99. The business has a 50 day simple moving average of $346.82 and a two-hundred day simple moving average of $306.35. The company has a market cap of $59.32 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 4.72 and a beta of 0.68.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The firm had revenue of $921.70 million during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business earned $4.28 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. Analysts predict that Public Storage will post 16.73 EPS for the current year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.54%. The ex-dividend date was Friday, September 13th. Public Storage’s dividend payout ratio (DPR) is 112.46%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PSA shares. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a report on Monday, August 5th. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Royal Bank of Canada started coverage on shares of Public Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 price objective on the stock. Evercore ISI cut their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Finally, Jefferies Financial Group increased their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $340.93.

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.