World Investment Advisors Makes New $1.13 Million Investment in Public Storage $PSA

World Investment Advisors bought a new position in shares of Public Storage (NYSE:PSA) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,849 shares of the real estate investment trust’s stock, valued at approximately $1,129,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in Public Storage in the first quarter worth $271,196,000. Goldman Sachs Group Inc. raised its holdings in Public Storage by 68.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock worth $348,670,000 after purchasing an additional 475,342 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Public Storage in the second quarter worth $94,297,000. Vanguard Group Inc. raised its holdings in Public Storage by 0.7% in the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock worth $6,206,046,000 after purchasing an additional 143,575 shares during the period. Finally, Deutsche Bank AG raised its holdings in Public Storage by 9.8% in the first quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust’s stock worth $462,774,000 after purchasing an additional 138,486 shares during the period. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PSA shares. Royal Bank Of Canada cut their target price on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a report on Friday. 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 report on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. UBS Group lowered their price objective on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Finally, Evercore ISI increased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and an average target price of $325.54.

Public Storage Stock Down 0.7%

Shares of Public Storage stock opened at $278.99 on Friday. The business’s 50 day simple moving average is $292.66 and its 200 day simple moving average is $293.07. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. The firm has a market cap of $48.95 billion, a PE ratio of 28.97, a P/E/G ratio of 4.72 and a beta of 0.89. 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 (NYSE:PSA) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.Public Storage’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

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 given a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.3%. Public Storage’s dividend payout ratio (DPR) is 130.86%.

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.