Sivia Capital Partners LLC Acquires New Holdings in Public Storage $PSA

Sivia Capital Partners LLC acquired a new stake in shares of Public Storage (NYSE:PSA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,168 shares of the real estate investment trust’s stock, valued at approximately $929,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Public Storage by 0.7% during the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock valued at $6,206,046,000 after acquiring an additional 143,575 shares in the last quarter. Wellington Management Group LLP lifted its position in Public Storage by 1.0% during the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock valued at $894,177,000 after purchasing an additional 30,775 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Public Storage by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust’s stock valued at $848,425,000 after purchasing an additional 34,718 shares during the last quarter. Northern Trust Corp lifted its position in Public Storage by 2.8% during the first quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock valued at $762,135,000 after purchasing an additional 69,882 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Public Storage by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock valued at $638,805,000 after purchasing an additional 12,204 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 0.6%

Shares of Public Storage stock opened at $284.84 on Wednesday. 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 fifty day simple moving average is $287.16 and its two-hundred day simple moving average is $293.22. The company has a market cap of $49.98 billion, a P/E ratio of 31.06, a PEG ratio of 4.76 and a beta of 0.86. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Research analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, September 15th. Public Storage’s payout ratio is presently 130.86%.

Wall Street Analyst Weigh In

PSA has been the subject of several research analyst reports. BMO Capital Markets lowered shares of Public Storage from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $340.00 to $325.00 in a research report on Friday, June 20th. Evercore ISI lifted their target price on shares of Public Storage from $309.00 to $312.00 and gave the company an “in-line” rating in a research report on Monday. Barclays dropped their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Mizuho lifted their target price on shares of Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a research report on Wednesday, May 28th. Finally, Royal Bank Of Canada lowered their price objective on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and an average price target of $329.21.

Public Storage Profile

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.