Oregon Public Employees Retirement Fund Buys 97 Shares of Public Storage (NYSE:PSA)

Oregon Public Employees Retirement Fund lifted its stake in shares of Public Storage (NYSE:PSA) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,585 shares of the real estate investment trust’s stock after acquiring an additional 97 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Public Storage were worth $3,908,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position in Public Storage by 107.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 44 shares during the period. Core Wealth Advisors Inc. bought a new stake in shares of Public Storage during the 4th quarter worth $30,000. EdgeRock Capital LLC acquired a new position in Public Storage in the 4th quarter valued at $32,000. OFI Invest Asset Management bought a new position in Public Storage in the 2nd quarter worth $32,000. Finally, ICA Group Wealth Management LLC bought a new position in Public Storage in the 4th quarter worth $37,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of Public Storage from $330.00 to $334.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Citigroup increased their target price on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company lifted their price target on Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Scotiabank upped their price target on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Finally, Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective on the stock. in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.77.

Public Storage Stock Up 0.7 %

Shares of PSA stock opened at $343.95 on Thursday. Public Storage has a one year low of $233.18 and a one year high of $346.55. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a fifty day moving average price of $310.84 and a 200 day moving average price of $289.57. The stock has a market cap of $60.20 billion, a P/E ratio of 31.24, a price-to-earnings-growth ratio of 5.69 and a beta of 0.67.

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

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Friday, September 13th. Public Storage’s payout ratio is 108.99%.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 400 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $274.29, for a total transaction of $109,716.00. Following the completion of the transaction, the insider now owns 3,214 shares in the company, valued at approximately $881,568.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.00% of the company’s stock.

Public Storage 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.