Thrivent Financial for Lutherans Buys 3,048 Shares of Public Storage $PSA

Thrivent Financial for Lutherans grew its stake in Public Storage (NYSE:PSA) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,698 shares of the real estate investment trust’s stock after acquiring an additional 3,048 shares during the period. Thrivent Financial for Lutherans’ holdings in Public Storage were worth $9,006,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage in the 3rd quarter valued at about $27,000. Raiffeisen Bank International AG bought a new position in shares of Public Storage in the 3rd quarter valued at about $30,000. Wealth Watch Advisors INC bought a new position in shares of Public Storage in the 3rd quarter valued at about $34,000. Knuff & Co LLC bought a new position in shares of Public Storage in the 4th quarter valued at about $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Public Storage by 2,940.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 147 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PSA shares. The Goldman Sachs Group restated a “buy” rating and issued a $341.00 price objective on shares of Public Storage in a report on Wednesday, April 29th. Truist Financial raised their price objective on Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Scotiabank raised their price objective on Public Storage from $321.00 to $340.00 in a report on Monday, May 11th. Barclays decreased their price objective on Public Storage from $352.00 to $349.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft cut Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target for the company. in a report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $312.94.

Public Storage Trading Up 0.6%

Shares of NYSE:PSA opened at $297.78 on Wednesday. Public Storage has a 12-month low of $256.54 and a 12-month high of $313.51. The stock has a market cap of $52.28 billion, a PE ratio of 30.73, a P/E/G ratio of 4.04 and a beta of 1.00. The business has a 50 day moving average of $293.18 and a 200-day moving average of $284.40. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company posted $4.12 earnings per share. The business’s revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities research analysts forecast that Public Storage will post 16.89 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, June 15th. Public Storage’s payout ratio is currently 123.84%.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.