Voya Investment Management LLC Acquires 80 Shares of Public Storage $PSA

Voya Investment Management LLC raised its holdings in Public Storage (NYSE:PSA) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,426 shares of the real estate investment trust’s stock after buying an additional 80 shares during the quarter. Voya Investment Management LLC’s holdings in Public Storage were worth $9,705,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Asset Planning Services Inc. LA ADV grew its position in shares of Public Storage by 1.9% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 19,348 shares of the real estate investment trust’s stock worth $5,791,000 after buying an additional 360 shares during the last quarter. Nicola Wealth Management LTD. grew its position in shares of Public Storage by 7.2% in the 1st quarter. Nicola Wealth Management LTD. now owns 8,890 shares of the real estate investment trust’s stock worth $2,661,000 after buying an additional 600 shares during the last quarter. Modern Wealth Management LLC grew its position in shares of Public Storage by 65.5% in the 1st quarter. Modern Wealth Management LLC now owns 1,521 shares of the real estate investment trust’s stock worth $455,000 after buying an additional 602 shares during the last quarter. Strs Ohio bought a new stake in shares of Public Storage in the 1st quarter worth approximately $35,178,000. Finally, Jacobi Capital Management LLC grew its position in shares of Public Storage by 3.3% in the 1st quarter. Jacobi Capital Management LLC now owns 1,806 shares of the real estate investment trust’s stock worth $541,000 after buying an additional 58 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PSA has been the topic of a number of recent analyst reports. Mizuho lifted their price objective on Public Storage from $287.00 to $309.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 28th. Barclays dropped their price target on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Scotiabank dropped their price target on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Finally, Royal Bank Of Canada dropped their price target on Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $329.21.

Public Storage Stock Down 0.6%

PSA stock opened at $284.84 on Wednesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The stock has a market capitalization of $49.98 billion, a P/E ratio of 31.06, a P/E/G ratio of 4.76 and a beta of 0.86. The business has a fifty day moving average price of $287.16 and a 200-day moving average price of $293.22.

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

Public Storage Dividend Announcement

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