Public Storage (NYSE:PSA) Shares Bought by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC grew its stake in shares of Public Storage (NYSE:PSA) by 9.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,154 shares of the real estate investment trust’s stock after purchasing an additional 882 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Public Storage were worth $2,903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSA. Vanguard Group Inc. increased its stake in Public Storage by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after buying an additional 217,487 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Public Storage by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after buying an additional 219,391 shares during the period. APG Asset Management US Inc. increased its stake in Public Storage by 4.7% in the 4th quarter. APG Asset Management US Inc. now owns 2,074,617 shares of the real estate investment trust’s stock valued at $632,758,000 after buying an additional 93,122 shares during the period. Centersquare Investment Management LLC increased its stake in Public Storage by 17.2% in the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock valued at $343,573,000 after buying an additional 173,975 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Public Storage by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust’s stock valued at $319,270,000 after buying an additional 281,800 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

NYSE:PSA opened at $361.72 on Friday. The firm has a market cap of $63.56 billion, a price-to-earnings ratio of 32.85, a price-to-earnings-growth ratio of 5.12 and a beta of 0.67. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The company’s 50-day moving average is $326.92 and its two-hundred day moving average is $295.63. Public Storage has a 12-month low of $233.18 and a 12-month high of $366.29.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The company had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company earned $4.28 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. Research analysts expect that Public Storage will post 16.73 EPS for the current year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th 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 3.32%. The ex-dividend date is Friday, September 13th. Public Storage’s dividend payout ratio is currently 108.99%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Jefferies Financial Group boosted their target price on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup boosted their target price on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Scotiabank boosted their target price on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Finally, Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average price target of $332.71.

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.