MASTERINVEST Kapitalanlage GmbH Makes New Investment in Public Storage $PSA

MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Public Storage (NYSE:PSA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,794 shares of the real estate investment trust’s stock, valued at approximately $820,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Public Storage by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 20,815,476 shares of the real estate investment trust’s stock worth $6,107,677,000 after acquiring an additional 79,580 shares during the last quarter. State Street Corp boosted its stake in Public Storage by 1.2% in the second quarter. State Street Corp now owns 10,613,807 shares of the real estate investment trust’s stock worth $3,114,303,000 after purchasing an additional 126,113 shares in the last quarter. Norges Bank bought a new stake in shares of Public Storage during the second quarter worth $1,153,971,000. JPMorgan Chase & Co. grew its holdings in shares of Public Storage by 3.4% during the second quarter. JPMorgan Chase & Co. now owns 3,157,067 shares of the real estate investment trust’s stock worth $926,357,000 after purchasing an additional 103,965 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Public Storage by 1.0% in the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock valued at $894,177,000 after buying an additional 30,775 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 0.4%

Shares of NYSE PSA opened at $274.88 on Monday. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $322.49. The firm has a market capitalization of $48.23 billion, a P/E ratio of 28.54, a P/E/G ratio of 5.89 and a beta of 1.01. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.45 and a quick ratio of 0.45. The company’s 50 day simple moving average is $283.14 and its 200 day simple moving average is $287.60.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the business posted $4.20 EPS. The firm’s quarterly 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, analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

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 issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.4%. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PSA. BMO Capital Markets reduced their price target on shares of Public Storage from $325.00 to $320.00 and set a “market perform” rating on the stock in a research report on Monday, November 24th. Morgan Stanley initiated coverage on shares of Public Storage in a research note on Friday, December 5th. They set an “equal weight” rating and a $290.00 price target on the stock. Evercore ISI dropped their price objective on shares of Public Storage from $315.00 to $309.00 and set an “in-line” rating for the company in a research report on Monday, December 1st. Wells Fargo & Company upped their price objective on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Raymond James Financial decreased their price objective on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $320.87.

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.