Atomi Financial Group Inc. Takes Position in Public Storage (NYSE:PSA)

Atomi Financial Group Inc. acquired a new position in Public Storage (NYSE:PSA) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 821 shares of the real estate investment trust’s stock, valued at approximately $299,000.

A number of other large investors have also recently added to or reduced their stakes in PSA. Vanguard Group Inc. grew its position in shares of Public Storage by 1.0% in the first 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 during the last quarter. Price T Rowe Associates Inc. MD increased its position in Public Storage by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock worth $1,575,794,000 after buying an additional 219,391 shares in the last quarter. APG Asset Management US Inc. raised its holdings in shares of Public Storage by 4.8% in the second quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock worth $623,485,000 after acquiring an additional 100,000 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Public Storage by 8.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock worth $343,968,000 after acquiring an additional 95,080 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Public Storage by 17.2% in the first quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock valued at $343,573,000 after acquiring an additional 173,975 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on PSA shares. Evercore ISI boosted their target price on shares of Public Storage from $334.00 to $343.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Jefferies Financial Group boosted their price objective on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. 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. Royal Bank of Canada assumed coverage on shares of Public Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 target price for the company. Finally, Barclays raised their price objective on Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $337.36.

Public Storage Stock Up 0.2 %

PSA opened at $342.83 on Friday. The company has a market cap of $60.24 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 4.90 and a beta of 0.68. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.93 and a current ratio of 0.93. Public Storage has a 1 year low of $233.18 and a 1 year high of $369.99. The firm has a 50 day moving average price of $342.30 and a 200 day moving average price of $303.18.

Public Storage (NYSE:PSA) last issued its earnings results 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). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The business had revenue of $921.70 million during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business posted $4.28 EPS. The business’s revenue was down 1.0% on a year-over-year basis. Sell-side analysts expect that Public Storage will post 16.73 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Friday, September 13th. Public Storage’s payout ratio is 108.99%.

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.