Public Storage $PSA Holdings Increased by Baird Financial Group Inc.

Baird Financial Group Inc. increased its stake in Public Storage (NYSE:PSA) by 24.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,424 shares of the real estate investment trust’s stock after acquiring an additional 4,975 shares during the period. Baird Financial Group Inc.’s holdings in Public Storage were worth $7,460,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Jump Financial LLC bought a new stake in shares of Public Storage in the 1st quarter worth approximately $1,124,000. The Manufacturers Life Insurance Company grew its position in Public Storage by 3.0% in the first quarter. The Manufacturers Life Insurance Company now owns 103,972 shares of the real estate investment trust’s stock worth $31,118,000 after buying an additional 2,990 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in shares of Public Storage by 181.2% in the first quarter. Meridian Wealth Management LLC now owns 3,712 shares of the real estate investment trust’s stock valued at $1,111,000 after buying an additional 2,392 shares in the last quarter. Clear Creek Financial Management LLC bought a new position in shares of Public Storage in the second quarter valued at $342,000. Finally, Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Public Storage by 29.0% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 339,993 shares of the real estate investment trust’s stock valued at $101,757,000 after acquiring an additional 76,444 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Public Storage from $321.00 to $316.00 and set an “overweight” rating on the stock in a report on Wednesday, November 19th. Truist Financial dropped their price target on Public Storage from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Scotiabank cut their price objective on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Mizuho decreased their target price on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $320.87.

Public Storage Stock Down 0.9%

Public Storage stock opened at $269.59 on Tuesday. Public Storage has a twelve month low of $256.60 and a twelve month high of $336.80. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a market cap of $47.30 billion, a PE ratio of 28.00, a P/E/G ratio of 5.83 and a beta of 1.01. The firm’s 50 day moving average price is $284.78 and its two-hundred day moving average price is $288.41.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, beating the consensus estimate of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the company posted $4.20 EPS. Public Storage’s revenue was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, research analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.5%. Public Storage’s payout ratio is presently 124.61%.

Public Storage Company 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.