Public Storage $PSA Shares Purchased by Hantz Financial Services Inc.

Hantz Financial Services Inc. lifted its position in shares of Public Storage (NYSE:PSA) by 23.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,451 shares of the real estate investment trust’s stock after acquiring an additional 2,394 shares during the period. Hantz Financial Services Inc.’s holdings in Public Storage were worth $3,653,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. World Investment Advisors bought a new stake in shares of Public Storage during the second quarter valued at approximately $1,129,000. Bank of Jackson Hole Trust increased its position in Public Storage by 23.5% in the 2nd quarter. Bank of Jackson Hole Trust now owns 2,862 shares of the real estate investment trust’s stock valued at $840,000 after acquiring an additional 545 shares during the period. New York Life Investment Management LLC increased its position in Public Storage by 1.4% in the 2nd quarter. New York Life Investment Management LLC now owns 23,620 shares of the real estate investment trust’s stock valued at $6,931,000 after acquiring an additional 337 shares during the period. Howard Capital Management Inc. increased its position in Public Storage by 10.4% in the 2nd quarter. Howard Capital Management Inc. now owns 1,000 shares of the real estate investment trust’s stock valued at $293,000 after acquiring an additional 94 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Public Storage by 13.0% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 42,472 shares of the real estate investment trust’s stock valued at $12,462,000 after acquiring an additional 4,900 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday. UBS Group reduced their price objective on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Evercore ISI boosted their price target on shares of Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a research report on Friday, October 3rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.54.

Public Storage Price Performance

Shares of Public Storage stock opened at $278.99 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The company’s 50-day moving average price is $292.66 and its two-hundred day moving average price is $293.04. Public Storage has a 52 week low of $256.60 and a 52 week high of $355.87. The stock has a market cap of $48.95 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 4.72 and a beta of 0.89.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.07. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 35.67%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, sell-side analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is presently 130.86%.

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.