V Square Quantitative Management LLC Buys 132 Shares of Public Storage (NYSE:PSA)

V Square Quantitative Management LLC raised its stake in shares of Public Storage (NYSE:PSA) by 11.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,306 shares of the real estate investment trust’s stock after acquiring an additional 132 shares during the quarter. V Square Quantitative Management LLC’s holdings in Public Storage were worth $475,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PSA. Petredis Investment Advisors LLC boosted its position in Public Storage by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock valued at $2,497,000 after buying an additional 30 shares in the last quarter. Signet Financial Management LLC lifted its stake in shares of Public Storage by 2.1% during the first quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock valued at $555,000 after acquiring an additional 39 shares during the period. Assenagon Asset Management S.A. lifted its position in Public Storage by 0.9% during 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 purchasing an additional 39 shares during the period. Brookstone Capital Management boosted its stake in Public Storage by 3.4% in the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock valued at $354,000 after acquiring an additional 40 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC grew its holdings in Public Storage by 3.5% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock worth $357,000 after acquiring an additional 42 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PSA shares. Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a research note on Thursday, August 1st. Morgan Stanley lifted their price objective on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Citigroup upped their target price on shares of 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 target price on Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Wolfe Research raised Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $337.00.

Public Storage Trading Up 0.1 %

Shares of NYSE:PSA opened at $345.62 on Friday. The stock has a market capitalization of $60.73 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 4.84 and a beta of 0.68. The company’s 50-day moving average price is $345.72 and its two-hundred day moving average price is $305.21. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93. Public Storage has a one year low of $233.18 and a one year high of $369.99.

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

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.47%. Public Storage’s dividend payout ratio is currently 108.99%.

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.