Public Storage $PSA Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. reduced its position in Public Storage (NYSE:PSA) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,754 shares of the real estate investment trust’s stock after selling 2,479 shares during the quarter. Flputnam Investment Management Co.’s holdings in Public Storage were worth $23,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSA. Jump Financial LLC acquired a new stake in shares of Public Storage during the 1st quarter worth about $1,124,000. The Manufacturers Life Insurance Company boosted its holdings in Public Storage by 3.0% in the first quarter. The Manufacturers Life Insurance Company now owns 103,972 shares of the real estate investment trust’s stock valued at $31,118,000 after purchasing an additional 2,990 shares in the last quarter. Clear Creek Financial Management LLC purchased a new position in Public Storage in the second quarter valued at approximately $342,000. Cbre Investment Management Listed Real Assets LLC raised its holdings in Public Storage by 29.0% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 339,993 shares of the real estate investment trust’s stock worth $101,757,000 after purchasing an additional 76,444 shares in the last quarter. Finally, Diversified Trust Co purchased a new stake in shares of Public Storage during the 2nd quarter worth approximately $418,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on PSA shares. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a research report on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their target price on Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 27th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $301.00 target price (down from $316.00) on shares of Public Storage in a research report on Thursday. Finally, UBS Group cut their price target on Public Storage from $295.00 to $293.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $319.87.

Public Storage Stock Performance

NYSE PSA opened at $259.26 on Friday. The firm has a market cap of $45.49 billion, a P/E ratio of 26.92, a P/E/G ratio of 5.55 and a beta of 1.01. Public Storage has a 52-week low of $256.60 and a 52-week high of $322.49. The business’s 50-day moving average price is $280.39 and its 200 day moving average price is $286.30. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the firm earned $4.20 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, equities research analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Public Storage Profile

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.