Public Storage $PSA Position Reduced by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its position in shares of Public Storage (NYSE:PSA) by 8.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 69,945 shares of the real estate investment trust’s stock after selling 6,407 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Public Storage were worth $20,523,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC raised its holdings in Public Storage by 38.3% during the second quarter. Wealthfront Advisers LLC now owns 15,119 shares of the real estate investment trust’s stock worth $4,436,000 after purchasing an additional 4,189 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Public Storage by 5.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,555 shares of the real estate investment trust’s stock worth $2,510,000 after purchasing an additional 424 shares in the last quarter. Brighton Jones LLC raised its holdings in Public Storage by 159.6% during the second quarter. Brighton Jones LLC now owns 4,481 shares of the real estate investment trust’s stock worth $1,315,000 after purchasing an additional 2,755 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs raised its holdings in Public Storage by 7.7% during the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 6,968 shares of the real estate investment trust’s stock worth $2,045,000 after purchasing an additional 500 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its holdings in Public Storage by 497.0% during the second quarter. Focus Partners Advisor Solutions LLC now owns 4,113 shares of the real estate investment trust’s stock worth $1,207,000 after purchasing an additional 3,424 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 1.2%

Public Storage stock opened at $302.52 on Monday. 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 quick ratio of 1.77 and a current ratio of 1.77. 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 4.93 and a beta of 0.89. The firm’s 50 day moving average price is $292.41 and its two-hundred day moving average price is $292.87.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share 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 firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company posted $4.23 EPS. The company’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, research analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on PSA. Evercore ISI boosted their target price on Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a report on Friday, October 3rd. UBS Group decreased their price target on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 16th. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada decreased their price target on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research report on Friday, August 1st. 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 research 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 given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Public Storage presently 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.