Public Storage $PSA Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Public Storage (NYSE:PSA) by 4.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,386 shares of the real estate investment trust’s stock after purchasing an additional 816 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Public Storage were worth $5,502,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Public Storage by 0.7% in the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock valued at $6,206,046,000 after purchasing an additional 143,575 shares during the period. Wellington Management Group LLP grew its stake in Public Storage by 1.0% during the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock worth $894,177,000 after buying an additional 30,775 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Public Storage by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust’s stock worth $848,425,000 after buying an additional 34,718 shares during the period. Northern Trust Corp grew its stake in Public Storage by 2.8% during the first quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock worth $762,135,000 after buying an additional 69,882 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Public Storage by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock worth $638,805,000 after buying an additional 12,204 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PSA shares. BNP Paribas upgraded shares of Public Storage to a “strong-buy” rating in a research note on Tuesday, June 24th. Mizuho upped their target price on shares of Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, May 28th. BMO Capital Markets downgraded shares of Public Storage from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $340.00 to $325.00 in a research note on Friday, June 20th. Wells Fargo & Company decreased their target price on shares of Public Storage from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Finally, Barclays decreased their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $331.62.

Public Storage Stock Up 2.2%

Shares of NYSE:PSA opened at $295.06 on Friday. The stock has a market capitalization of $51.77 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 4.79 and a beta of 0.86. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The company’s fifty day moving average is $287.47 and its two-hundred day moving average is $293.67. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Public Storage’s dividend payout ratio is 130.86%.

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.