Thompson Siegel & Walmsley LLC Boosts Stake in Public Storage (NYSE:PSA)

Thompson Siegel & Walmsley LLC grew its stake in shares of Public Storage (NYSE:PSA) by 66.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,250 shares of the real estate investment trust’s stock after buying an additional 7,700 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Public Storage were worth $5,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Public Storage by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock worth $6,075,681,000 after purchasing an additional 217,487 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Public Storage by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock worth $1,575,794,000 after buying an additional 219,391 shares in the last quarter. Norges Bank purchased a new stake in shares of Public Storage in the fourth quarter worth about $821,151,000. APG Asset Management US Inc. boosted its stake in Public Storage by 4.7% during the fourth quarter. APG Asset Management US Inc. now owns 2,074,617 shares of the real estate investment trust’s stock valued at $632,758,000 after buying an additional 93,122 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in Public Storage by 17.2% during the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock valued at $343,573,000 after buying an additional 173,975 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 0.0 %

PSA opened at $359.16 on Monday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s 50 day moving average price is $320.20 and its 200-day moving average price is $293.11. Public Storage has a one year low of $233.18 and a one year high of $361.23. The stock has a market cap of $63.11 billion, a price-to-earnings ratio of 32.62, a P/E/G ratio of 5.06 and a beta of 0.67.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS 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 business had revenue of $921.70 million during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $4.28 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. On average, equities analysts forecast that Public Storage will post 16.73 EPS for the current year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.34%. Public Storage’s dividend payout ratio is currently 108.99%.

Analyst Ratings Changes

Several analysts have recently issued reports on PSA shares. Wolfe Research raised Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Evercore ISI upped their price target on shares of Public Storage from $330.00 to $334.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Wells Fargo & Company lifted their price objective on shares of Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a report on Monday, August 5th. Finally, Royal Bank of Canada assumed coverage on shares of Public Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and an average target price of $325.15.

Public Storage Profile

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.