OLD National Bancorp IN Buys 8,605 Shares of Public Storage $PSA

OLD National Bancorp IN boosted its position in shares of Public Storage (NYSE:PSA) by 41.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,599 shares of the real estate investment trust’s stock after purchasing an additional 8,605 shares during the period. OLD National Bancorp IN’s holdings in Public Storage were worth $8,550,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PSA. Summit Financial LLC raised its holdings in shares of Public Storage by 6.8% in the first 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. Compound Planning Inc. boosted its position in shares of Public Storage by 11.7% during the first 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 in the last quarter. Kestra Advisory Services LLC lifted its holdings in Public Storage by 10.0% during the first quarter. Kestra Advisory Services LLC now owns 32,238 shares of the real estate investment trust’s stock worth $9,649,000 after acquiring an additional 2,919 shares in the last quarter. Groupe la Francaise lifted its holdings in shares of Public Storage by 5.3% during the 1st quarter. Groupe la Francaise now owns 1,833 shares of the real estate investment trust’s stock valued at $535,000 after purchasing an additional 92 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in shares of Public Storage in the first quarter valued at approximately $232,000. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Morgan Stanley initiated coverage on shares of Public Storage in a research note on Friday, December 5th. They issued an “equal weight” rating and a $290.00 price target on the stock. Evercore ISI reduced 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 note on Monday, December 1st. Truist Financial decreased their price objective on Public Storage from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $319.87.

Public Storage Stock Up 0.8%

Public Storage stock opened at $261.19 on Tuesday. The firm has a market capitalization of $45.83 billion, a PE ratio of 27.12, a P/E/G ratio of 5.55 and a beta of 1.01. The company’s 50-day moving average is $279.62 and its 200-day moving average is $285.91. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $322.49. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.45 and a quick ratio of 0.45.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (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 during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the business 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. Sell-side analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is presently 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.