B&I Capital AG Sells 3,400 Shares of Public Storage $PSA

B&I Capital AG decreased its position in Public Storage (NYSE:PSA) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,255 shares of the real estate investment trust’s stock after selling 3,400 shares during the quarter. Public Storage accounts for approximately 3.7% of B&I Capital AG’s holdings, making the stock its 7th largest position. B&I Capital AG’s holdings in Public Storage were worth $10,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PSA. Nuveen LLC bought a new stake in Public Storage during the first quarter valued at $271,196,000. Goldman Sachs Group Inc. boosted its holdings in shares of Public Storage by 68.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock valued at $348,670,000 after buying an additional 475,342 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Public Storage during the 2nd quarter valued at about $94,297,000. Vanguard Group Inc. grew its position in shares of Public Storage by 0.7% during the 1st 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 buying an additional 143,575 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Public Storage by 9.8% during 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 acquiring an additional 138,486 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PSA shares. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research note on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Truist Financial dropped their target price on Public Storage from $320.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Public Storage from $321.00 to $316.00 and set an “overweight” rating for the company in a report on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $325.57.

Public Storage Stock Up 0.8%

PSA opened at $274.59 on Thursday. The stock’s 50 day moving average price is $286.21 and its 200 day moving average price is $290.16. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market cap of $48.18 billion, a P/E ratio of 28.51, a P/E/G ratio of 4.72 and a beta of 0.91. Public Storage has a 12 month low of $256.60 and a 12 month 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 return on equity of 35.67% and a net margin of 39.53%.The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, research analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

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