Public Storage $PSA Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC boosted its stake in Public Storage (NYSE:PSA) by 8.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,585 shares of the real estate investment trust’s stock after buying an additional 2,448 shares during the period. ProShare Advisors LLC’s holdings in Public Storage were worth $9,561,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position 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 valued at $6,206,046,000 after acquiring an additional 143,575 shares during the last quarter. Wellington Management Group LLP lifted its stake in Public Storage by 1.0% during the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock worth $894,177,000 after purchasing an additional 30,775 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Public Storage by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust’s stock valued at $848,425,000 after buying an additional 34,718 shares during the period. Northern Trust Corp boosted its holdings in Public Storage by 2.8% during the 1st quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock valued at $762,135,000 after acquiring an additional 69,882 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Public Storage by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock worth $638,805,000 after purchasing an additional 12,204 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of PSA opened at $275.07 on Thursday. The company has a market capitalization of $48.26 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $355.87. The firm has a 50-day simple moving average of $290.23 and a 200-day simple moving average of $292.13. 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 (NYSE:PSA) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the firm earned $4.20 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, equities research analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently announced 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. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s dividend payout ratio is 124.61%.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. UBS Group decreased their price objective on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Barclays cut their price target on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a research report on Monday, October 13th. Finally, Evercore ISI decreased their target price on Public Storage from $317.00 to $315.00 and set an “in-line” rating for the company in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.38.

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.