Natixis Advisors LLC Has $17.66 Million Stock Holdings in Public Storage (NYSE:PSA)

Natixis Advisors LLC lifted its position in shares of Public Storage (NYSE:PSA) by 22.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,380 shares of the real estate investment trust’s stock after purchasing an additional 11,375 shares during the period. Natixis Advisors LLC’s holdings in Public Storage were worth $17,656,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Gryphon Financial Partners LLC increased its stake in shares of Public Storage by 2.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock worth $476,000 after purchasing an additional 38 shares during the last quarter. Signet Financial Management LLC grew its stake in Public Storage by 2.1% in the 1st quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock valued at $555,000 after buying an additional 39 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Public Storage by 0.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock valued at $1,201,000 after buying an additional 39 shares during the last quarter. Brookstone Capital Management grew its stake in Public Storage by 3.4% in the 1st quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock valued at $354,000 after buying an additional 40 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC grew its stake in Public Storage by 3.5% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock valued at $357,000 after buying an additional 42 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PSA shares. Barclays upped their price target on shares of Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. 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 research report on Monday, August 5th. Scotiabank increased their target price on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Citigroup increased their target price on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Evercore ISI increased their target price on shares of Public Storage from $330.00 to $334.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $323.77.

Public Storage Stock Performance

Shares of Public Storage stock opened at $341.68 on Wednesday. The company has a 50 day moving average of $309.73 and a 200-day moving average of $289.19. Public Storage has a 1-year low of $233.18 and a 1-year high of $345.08. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The company has a market cap of $59.80 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 5.69 and a beta of 0.67.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The firm had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company posted $4.28 EPS. The business’s revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Public Storage will post 16.72 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.51%. The ex-dividend date is Friday, September 13th. Public Storage’s payout ratio is 108.99%.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 400 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $274.29, for a total value of $109,716.00. Following the completion of the transaction, the insider now owns 3,214 shares of the company’s stock, valued at approximately $881,568.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.00% of the stock is owned by insiders.

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.