Presima Securities ULC Grows Stock Holdings in Public Storage $PSA

Presima Securities ULC raised its position in shares of Public Storage (NYSE:PSA) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,863 shares of the real estate investment trust’s stock after buying an additional 192 shares during the period. Public Storage accounts for about 0.5% of Presima Securities ULC’s investment portfolio, making the stock its 25th biggest holding. Presima Securities ULC’s holdings in Public Storage were worth $2,307,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PSA. Private Trust Co. NA grew its position in Public Storage by 228.1% during the 1st quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust’s stock worth $640,000 after purchasing an additional 1,487 shares during the last quarter. TCW Group Inc. grew its position in Public Storage by 5.2% during the 1st quarter. TCW Group Inc. now owns 13,696 shares of the real estate investment trust’s stock worth $4,099,000 after purchasing an additional 676 shares during the last quarter. Jump Financial LLC purchased a new stake in Public Storage during the 1st quarter worth approximately $1,124,000. Capital Advisors Inc. OK purchased a new stake in Public Storage during the 1st quarter worth approximately $446,000. Finally, Vanguard Group Inc. grew its position in Public Storage by 0.7% during the 1st 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. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the topic of several research analyst reports. Scotiabank dropped their target price on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Evercore ISI boosted their target price on shares of Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. cut their price target on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a report on Monday, October 13th. One research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $325.54.

Public Storage Price Performance

Shares of NYSE PSA opened at $278.99 on Friday. The stock has a market capitalization of $48.95 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 4.72 and a beta of 0.89. Public Storage has a 12 month low of $256.60 and a 12 month high of $355.87. The firm’s 50 day simple moving average is $292.66 and its 200-day simple moving average is $293.04. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 35.67%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company earned $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.3%. Public Storage’s dividend payout ratio (DPR) is presently 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.