Nisa Investment Advisors LLC Raises Position in Public Storage (NYSE:PSA)

Nisa Investment Advisors LLC increased its stake in shares of Public Storage (NYSE:PSA) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,813 shares of the real estate investment trust’s stock after buying an additional 906 shares during the quarter. Nisa Investment Advisors LLC owned 0.06% of Public Storage worth $27,848,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Public Storage during the fourth quarter valued at about $3,112,000. SVB Wealth LLC purchased a new position in shares of Public Storage in the 4th quarter worth approximately $245,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Public Storage by 90.1% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 230 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 109 shares during the period. Twin Capital Management Inc. raised its stake in shares of Public Storage by 99.1% during the 4th quarter. Twin Capital Management Inc. now owns 5,269 shares of the real estate investment trust’s stock worth $1,607,000 after purchasing an additional 2,623 shares during the period. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of Public Storage in the 4th quarter worth about $572,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Up 0.7 %

NYSE PSA traded up $2.31 on Monday, hitting $321.72. The company’s stock had a trading volume of 219,098 shares, compared to its average volume of 714,549. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. Public Storage has a 52-week low of $233.18 and a 52-week high of $322.97. The firm has a market cap of $56.53 billion, a P/E ratio of 29.01, a PEG ratio of 5.30 and a beta of 0.65. The company’s 50-day simple moving average is $297.29 and its 200 day simple moving average is $284.49.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The company 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 earned $4.28 EPS. The business’s revenue was down 1.0% on a year-over-year basis. Research analysts predict that Public Storage will post 16.74 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $3.00 per share. The ex-dividend date is Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.73%. Public Storage’s dividend payout ratio (DPR) is 108.99%.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 400 shares of Public Storage stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $274.29, for a total transaction of $109,716.00. Following the sale, the insider now directly owns 3,214 shares in the company, valued at $881,568.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PSA. Barclays decreased their price objective on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating for the company in a report on Monday, May 20th. Truist Financial lowered Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a research note on Thursday, August 1st. Scotiabank cut their target price on shares of Public Storage from $314.00 to $308.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target on the stock. in a research report on Monday, August 5th. Finally, Evercore ISI increased their target price on Public Storage from $289.00 to $300.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $309.92.

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.