National Pension Service Sells 207,794 Shares of Public Storage $PSA

National Pension Service cut its holdings in Public Storage (NYSE:PSA) by 45.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,955 shares of the real estate investment trust’s stock after selling 207,794 shares during the period. National Pension Service owned about 0.14% of Public Storage worth $71,875,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PSA. Marshall & Sullivan Inc. WA bought a new position in Public Storage in the 2nd quarter valued at $25,000. Harbor Asset Planning Inc. bought a new stake in shares of Public Storage during the 2nd quarter worth $25,000. Spectrum Wealth Counsel LLC purchased a new position in shares of Public Storage in the 1st quarter worth about $30,000. NewSquare Capital LLC grew its position in Public Storage by 60.6% during the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 40 shares during the period. Finally, Winch Advisory Services LLC grew its position in Public Storage by 39.8% during the first quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 43 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PSA shares. Barclays dropped their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. JPMorgan Chase & Co. dropped their price objective on Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research report on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research note on Wednesday, October 8th. Finally, Evercore ISI dropped their price target on Public Storage from $317.00 to $315.00 and set an “in-line” rating on the stock in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average target price of $325.38.

Public Storage Trading Down 0.4%

Shares of PSA stock opened at $274.15 on Friday. The stock has a market capitalization of $48.10 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 4.72 and a beta of 0.91. The company’s fifty day simple moving average is $289.86 and its two-hundred day simple moving average is $292.00. Public Storage has a 1 year low of $256.60 and a 1 year high of $355.87. 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 announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.07. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $3.00 per share. The ex-dividend date is Monday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.4%. Public Storage’s dividend payout ratio is currently 124.61%.

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.