Public Storage $PSA Shares Purchased by Bayforest Capital Ltd

Bayforest Capital Ltd grew its stake in shares of Public Storage (NYSE:PSA) by 20.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 410 shares of the real estate investment trust’s stock after purchasing an additional 71 shares during the quarter. Bayforest Capital Ltd’s holdings in Public Storage were worth $120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Wealth Enhancement Advisory Services LLC boosted its holdings in Public Storage by 12.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust’s stock valued at $13,240,000 after purchasing an additional 4,746 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Public Storage by 1.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust’s stock valued at $92,960,000 after buying an additional 3,627 shares during the last quarter. Private Trust Co. NA grew its position in shares of Public Storage by 228.1% during the first quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust’s stock worth $640,000 after buying an additional 1,487 shares in the last quarter. Summit Trail Advisors LLC increased its stake in shares of Public Storage by 43.3% in the first quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust’s stock worth $1,083,000 after buying an additional 1,093 shares during the last quarter. Finally, TCW Group Inc. raised its holdings in Public Storage by 5.2% in the first quarter. TCW Group Inc. now owns 13,696 shares of the real estate investment trust’s stock valued at $4,099,000 after acquiring an additional 676 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSA has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Barclays decreased their price target on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective on the stock in a research note on Monday. BNP Paribas upgraded Public Storage to a “strong-buy” rating in a research report on Tuesday, June 24th. Finally, Evercore ISI upped their price target on Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $324.92.

Public Storage Stock Performance

Shares of NYSE PSA opened at $307.77 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm’s 50-day moving average price is $289.77 and its two-hundred day moving average price is $291.77. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. The stock has a market capitalization of $54.00 billion, a P/E ratio of 33.56, a P/E/G ratio of 5.01 and a beta of 0.89.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, sell-side analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. Public Storage’s payout ratio is 130.86%.

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.