Swiss National Bank Boosts Stock Holdings in Public Storage $PSA

Swiss National Bank raised its holdings in Public Storage (NYSE:PSA) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 477,900 shares of the real estate investment trust’s stock after purchasing an additional 33,200 shares during the quarter. Swiss National Bank’s holdings in Public Storage were worth $140,225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. Personal CFO Solutions LLC raised its stake in shares of Public Storage by 6.3% during the 2nd quarter. Personal CFO Solutions LLC now owns 809 shares of the real estate investment trust’s stock worth $237,000 after buying an additional 48 shares in the last quarter. Prudential PLC grew its holdings in Public Storage by 280.5% during the second quarter. Prudential PLC now owns 10,377 shares of the real estate investment trust’s stock worth $3,045,000 after acquiring an additional 7,650 shares during the period. Ensign Peak Advisors Inc raised its position in Public Storage by 4.5% in the second quarter. Ensign Peak Advisors Inc now owns 67,222 shares of the real estate investment trust’s stock worth $19,724,000 after acquiring an additional 2,874 shares in the last quarter. Saturna Capital Corp lifted its holdings in Public Storage by 3.4% in the second quarter. Saturna Capital Corp now owns 7,136 shares of the real estate investment trust’s stock valued at $2,094,000 after acquiring an additional 235 shares during the period. Finally, Highview Capital Management LLC DE lifted its holdings in Public Storage by 3.3% in the second quarter. Highview Capital Management LLC DE now owns 4,371 shares of the real estate investment trust’s stock valued at $1,283,000 after acquiring an additional 141 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PSA. Royal Bank Of Canada lowered their price target on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft upgraded 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. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. lowered their price target on Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Finally, UBS Group reduced their price objective on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and a consensus price target of $325.38.

Public Storage Price Performance

PSA stock opened at $269.77 on Friday. The stock’s 50 day moving average price is $287.01 and its 200 day moving average price is $290.83. The firm has a market cap of $47.33 billion, a P/E ratio of 28.01, a PEG ratio of 4.72 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. Public Storage has a 1 year low of $256.60 and a 1 year high of $355.87.

Public Storage (NYSE:PSA) last released its quarterly earnings results 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. Public Storage had a net margin of 39.53% and a return on equity of 35.67%. Public Storage’s quarterly 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. On average, sell-side analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is 124.61%.

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.