Public Storage (NYSE:PSA) Shares Acquired by Profund Advisors LLC

Profund Advisors LLC increased its position in shares of Public Storage (NYSE:PSA) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,517 shares of the real estate investment trust’s stock after acquiring an additional 66 shares during the period. Profund Advisors LLC’s holdings in Public Storage were worth $724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of Public Storage by 107.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 44 shares in the last quarter. Core Wealth Advisors Inc. purchased a new position in Public Storage in the 4th quarter valued at approximately $30,000. OFI Invest Asset Management acquired a new position in shares of Public Storage in the second quarter worth $32,000. ICA Group Wealth Management LLC purchased a new stake in shares of Public Storage during the fourth quarter worth $37,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Public Storage in the second quarter valued at $36,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSA has been the subject of several analyst reports. Jefferies Financial Group boosted their target price on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company upped their target price on shares of Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Scotiabank lifted their price target on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a report on Monday, August 5th. Finally, Evercore ISI boosted their target price on Public Storage from $334.00 to $343.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $339.08.

Public Storage Trading Down 0.8 %

Shares of Public Storage stock opened at $361.99 on Wednesday. Public Storage has a 1 year low of $233.18 and a 1 year high of $366.80. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93. The business has a 50 day moving average price of $329.30 and a 200 day moving average price of $296.87. The company has a market capitalization of $63.61 billion, a P/E ratio of 32.88, a P/E/G ratio of 5.12 and a beta of 0.67.

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

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, September 13th. This represents a $12.00 annualized dividend and a yield of 3.32%. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

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.