Sarasin & Partners LLP Decreases Stock Holdings in Public Storage $PSA

Sarasin & Partners LLP reduced its position in shares of Public Storage (NYSE:PSA) by 68.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,041 shares of the real estate investment trust’s stock after selling 22,205 shares during the period. Sarasin & Partners LLP’s holdings in Public Storage were worth $2,897,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Public Storage by 3.9% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,012 shares of the real estate investment trust’s stock worth $1,201,000 after buying an additional 150 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in Public Storage by 14.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,158 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 143 shares in the last quarter. Summit Financial LLC increased its position in Public Storage by 6.8% during the 1st quarter. Summit Financial LLC now owns 1,757 shares of the real estate investment trust’s stock valued at $526,000 after purchasing an additional 112 shares during the period. 1832 Asset Management L.P. raised its holdings in Public Storage by 7.0% in the 1st quarter. 1832 Asset Management L.P. now owns 81,812 shares of the real estate investment trust’s stock worth $24,486,000 after purchasing an additional 5,385 shares in the last quarter. Finally, Compound Planning Inc. lifted its position in shares of Public Storage by 11.7% in the 1st quarter. Compound Planning Inc. now owns 994 shares of the real estate investment trust’s stock worth $298,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Scotiabank reduced their price target on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Mizuho reduced their target price on Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $301.00 target price (down previously from $316.00) on shares of Public Storage in a research report on Thursday. Royal Bank Of Canada lowered their target price on Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Finally, BMO Capital Markets reduced their price target on Public Storage from $325.00 to $320.00 and set a “market perform” rating on the stock in a research note on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and a consensus target price of $319.87.

Public Storage Stock Performance

Shares of PSA opened at $259.26 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99. The stock has a market cap of $45.49 billion, a P/E ratio of 26.92, a P/E/G ratio of 5.55 and a beta of 1.01. The business’s 50 day moving average price is $280.39 and its 200-day moving average price is $286.30. Public Storage has a 52 week low of $256.60 and a 52 week high of $322.49.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) 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 business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business earned $4.20 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities research analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

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

About Public Storage

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.