Sumitomo Mitsui Trust Group Inc. Purchases 21,645 Shares of Public Storage $PSA

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Public Storage (NYSE:PSA) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 776,307 shares of the real estate investment trust’s stock after acquiring an additional 21,645 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.44% of Public Storage worth $227,784,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of PSA. Nuveen LLC bought a new stake in Public Storage during the first quarter valued at $271,196,000. Goldman Sachs Group Inc. boosted its position in 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 valued at $348,670,000 after acquiring an additional 475,342 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Public Storage during the second quarter valued at $94,297,000. Vanguard Group Inc. boosted its position in 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 valued at $6,206,046,000 after acquiring an additional 143,575 shares during the last quarter. Finally, Deutsche Bank AG raised 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 valued at $462,774,000 after purchasing an additional 138,486 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 1.2%

NYSE:PSA opened at $302.52 on Friday. The firm has a 50-day moving average price of $292.41 and a two-hundred day moving average price of $292.61. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. Public Storage has a 52 week low of $256.60 and a 52 week high of $355.87. The firm has a market cap of $53.08 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 5.00 and a beta of 0.89.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business posted $4.23 EPS. Public Storage’s quarterly revenue was up 2.4% compared to the same quarter last year. 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 fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $3.00 per share. The ex-dividend date was Monday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.0%. Public Storage’s dividend payout ratio (DPR) is presently 130.86%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Scotiabank dropped their price objective on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Evercore ISI upped their price objective on shares of Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Barclays lowered their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $324.92.

Public Storage Company 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.