Texas Permanent School Fund Corp Decreases Holdings in Public Storage $PSA

Texas Permanent School Fund Corp reduced its holdings in shares of Public Storage (NYSE:PSA) by 34.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,095 shares of the real estate investment trust’s stock after selling 5,932 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Public Storage were worth $3,255,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Public Storage by 3.9% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,012 shares of the real estate investment trust’s stock valued at $1,201,000 after purchasing an additional 150 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Public Storage by 14.1% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,158 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 143 shares in the last quarter. Summit Financial LLC grew its position in shares of Public Storage by 6.8% in the 1st quarter. Summit Financial LLC now owns 1,757 shares of the real estate investment trust’s stock valued at $526,000 after buying an additional 112 shares during the last quarter. Norinchukin Bank The raised its stake in Public Storage by 10.1% during the 1st quarter. Norinchukin Bank The now owns 15,565 shares of the real estate investment trust’s stock worth $4,658,000 after acquiring an additional 1,422 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Public Storage by 7.0% in the first quarter. 1832 Asset Management L.P. now owns 81,812 shares of the real estate investment trust’s stock valued at $24,486,000 after acquiring an additional 5,385 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 0.8%

NYSE:PSA opened at $259.26 on Friday. Public Storage has a 12-month low of $256.60 and a 12-month high of $322.49. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. The stock’s 50 day simple moving average is $280.39 and its 200-day simple moving average is $286.42. The firm has a market cap of $45.49 billion, a P/E ratio of 26.92, a PEG ratio of 5.60 and a beta of 1.01.

Public Storage (NYSE:PSA) last posted its quarterly earnings data 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. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. Public Storage’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm posted $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, December 15th. Public Storage’s payout ratio is 124.61%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. BMO Capital Markets cut their price target on 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. Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a report on Monday, October 13th. Finally, Morgan Stanley initiated coverage on shares of Public Storage in a report on Friday, December 5th. They issued an “equal weight” rating and a $290.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $319.87.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.