PDS Planning Inc Acquires 409 Shares of Public Storage $PSA

PDS Planning Inc lifted its holdings in shares of Public Storage (NYSE:PSA) by 50.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,226 shares of the real estate investment trust’s stock after purchasing an additional 409 shares during the period. PDS Planning Inc’s holdings in Public Storage were worth $360,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PSA. Nuveen LLC bought a new stake in shares of Public Storage during the first quarter worth $271,196,000. Goldman Sachs Group Inc. grew its holdings in shares of Public Storage by 68.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock worth $348,670,000 after purchasing an additional 475,342 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Public Storage by 0.7% during the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock worth $6,206,046,000 after purchasing an additional 143,575 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Public Storage by 9.8% during the first quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust’s stock worth $462,774,000 after purchasing an additional 138,486 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Public Storage during the first quarter worth $35,178,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 0.1%

NYSE:PSA opened at $294.19 on Monday. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. The business’s 50-day moving average price is $287.61 and its two-hundred day moving average price is $291.48. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $51.62 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 4.88 and a beta of 0.89.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm posted $4.23 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.1%. Public Storage’s dividend payout ratio is presently 130.86%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Evercore ISI increased their target price on Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a report on Friday, October 3rd. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Scotiabank cut their price target on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. Royal Bank Of Canada cut their price target on Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research note on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $322.92.

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.