Thoroughbred Financial Services LLC Has $1.82 Million Holdings in Public Storage (NYSE:PSA)

Thoroughbred Financial Services LLC grew its stake in shares of Public Storage (NYSE:PSA - Free Report) by 93.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 6,314 shares of the real estate investment trust's stock after acquiring an additional 3,055 shares during the quarter. Thoroughbred Financial Services LLC's holdings in Public Storage were worth $1,816,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Public Storage by 1.0% during 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 during the period. Price T Rowe Associates Inc. MD lifted 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 worth $1,575,794,000 after acquiring an additional 219,391 shares during the period. Norges Bank acquired a new stake in shares of Public Storage during the 4th quarter worth approximately $821,151,000. APG Asset Management US Inc. boosted its position in shares of Public Storage by 4.7% during the 4th quarter. APG Asset Management US Inc. now owns 2,074,617 shares of the real estate investment trust's stock worth $632,758,000 after acquiring an additional 93,122 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its stake in Public Storage by 17.2% in the first 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 acquiring an additional 173,975 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wolfe Research upgraded Public Storage to a "strong-buy" rating in a research note on Wednesday, September 4th. Evercore ISI raised their price objective on Public Storage from $330.00 to $334.00 and gave the company an "in-line" rating in a research note on Wednesday, August 28th. Barclays boosted their target price on Public Storage from $327.00 to $374.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Wells Fargo & Company increased their target price on shares of Public Storage from $310.00 to $320.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Finally, Truist Financial lowered shares of Public Storage from a "buy" rating to a "hold" rating and set a $306.00 price target on the stock. in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $325.15.

Public Storage Trading Up 0.8 %

PSA traded up $3.01 during trading on Friday, reaching $359.16. 548,863 shares of the company's stock were exchanged, compared to its average volume of 628,717. 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 one year low of $233.18 and a one year high of $361.23. The firm has a fifty day moving average price of $320.20 and a two-hundred day moving average price of $293.02. The stock has a market capitalization of $62.86 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 5.06 and a beta of 0.67.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $921.70 million during the quarter, compared to the consensus estimate of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The business's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.28 EPS. As a group, equities research analysts forecast that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given 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 3.34%. Public Storage's dividend payout ratio (DPR) is 108.99%.

Public Storage Company 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.