Vanderbilt University Has $3.43 Million Position in Public Storage (NYSE:PSA)

Vanderbilt University cut its holdings in Public Storage (NYSE:PSA) by 21.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,421 shares of the real estate investment trust’s stock after selling 2,506 shares during the quarter. Vanderbilt University’s holdings in Public Storage were worth $3,428,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Public Storage by 1.0% in the first 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 increased its holdings in shares of Public Storage by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after acquiring an additional 219,391 shares during the last quarter. APG Asset Management US Inc. raised its stake in shares of Public Storage by 4.8% in the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock valued at $623,485,000 after acquiring an additional 100,000 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Public Storage by 8.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock valued at $343,968,000 after acquiring an additional 95,080 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its holdings in Public Storage by 17.2% in the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock worth $343,573,000 after purchasing an additional 173,975 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Price Performance

Shares of NYSE:PSA traded up $3.20 during midday trading on Monday, reaching $339.54. 35,089 shares of the company’s stock were exchanged, compared to its average volume of 702,553. 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 company’s 50 day simple moving average is $347.58 and its two-hundred day simple moving average is $307.22. Public Storage has a 12 month low of $233.18 and a 12 month high of $369.99. The firm has a market capitalization of $59.43 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 4.74 and a beta of 0.68.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The business had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the business earned $4.28 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts expect that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $12.00 annualized dividend and a yield of 3.53%. Public Storage’s dividend payout ratio is currently 112.46%.

Wall Street Analyst Weigh In

PSA has been the topic of a number of recent analyst reports. 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. Jefferies Financial Group upped their price target on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Morgan Stanley boosted their price objective on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Wolfe Research raised Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company upped their price target on Public Storage from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $341.43.

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.