Public Storage (NYSE:PSA) Shares Acquired by Whittier Trust Co.

Whittier Trust Co. grew its position in shares of Public Storage (NYSE:PSA) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,868 shares of the real estate investment trust’s stock after buying an additional 79 shares during the period. Whittier Trust Co.’s holdings in Public Storage were worth $680,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Petredis Investment Advisors LLC boosted its holdings in Public Storage by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock worth $2,497,000 after purchasing an additional 30 shares during the period. Signet Financial Management LLC grew its position in shares of Public Storage by 2.1% during the 1st quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock valued at $555,000 after buying an additional 39 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Public Storage by 0.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock worth $1,201,000 after acquiring an additional 39 shares during the period. Brookstone Capital Management lifted its holdings in Public Storage by 3.4% in the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock worth $354,000 after acquiring an additional 40 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in Public Storage by 3.5% in the first quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock valued at $357,000 after acquiring an additional 42 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PSA. Barclays raised their price target on Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Wells Fargo & Company upped their price target on shares of Public Storage from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday. Evercore ISI cut their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Morgan Stanley upped their target price on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group lifted their price target on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $340.93.

Public Storage Stock Performance

Shares of NYSE PSA opened at $339.77 on Thursday. Public Storage has a 1 year low of $233.18 and a 1 year high of $369.99. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a fifty day moving average price of $346.82 and a two-hundred day moving average price of $306.35. The firm has a market cap of $59.71 billion, a P/E ratio of 30.86, a PEG ratio of 4.87 and a beta of 0.68.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The business had revenue of $921.70 million during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $4.28 earnings per share. Public Storage’s revenue was down 1.0% compared to the same quarter last year. Research analysts forecast that Public Storage will post 16.73 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $3.00 dividend. The ex-dividend date was Friday, September 13th. This represents a $12.00 annualized dividend and a yield of 3.53%. Public Storage’s dividend payout ratio (DPR) is 108.99%.

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.