Dimensional Fund Advisors LP Decreases Stock Position in Public Storage (NYSE:PSA)

Dimensional Fund Advisors LP reduced its position in Public Storage (NYSE:PSA - Free Report) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,179,262 shares of the real estate investment trust's stock after selling 14,961 shares during the quarter. Dimensional Fund Advisors LP owned about 1.24% of Public Storage worth $626,863,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PSA. Norges Bank purchased a new position in Public Storage during the 4th quarter worth $821,151,000. Daiwa Securities Group Inc. grew its stake in shares of Public Storage by 86.8% during the first quarter. Daiwa Securities Group Inc. now owns 645,168 shares of the real estate investment trust's stock worth $187,137,000 after acquiring an additional 299,826 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Public Storage by 34.4% during the first quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust's stock valued at $319,270,000 after acquiring an additional 281,800 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Public Storage by 4.2% in 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 purchasing an additional 219,391 shares during the last quarter. Finally, Vanguard Group Inc. boosted 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. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PSA. 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 note on Monday, August 5th. Citigroup upped their target price on Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Barclays lifted their price target on Public Storage from $327.00 to $374.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Scotiabank increased their price objective on Public Storage from $308.00 to $339.00 and gave the company a "sector perform" rating in a report on Thursday, August 22nd. Finally, Evercore ISI raised their price objective on Public Storage from $334.00 to $343.00 and gave the stock an "in-line" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $325.85.

Public Storage Price Performance

NYSE PSA traded up $3.89 during trading hours on Monday, reaching $363.05. The company's stock had a trading volume of 442,245 shares, compared to its average volume of 710,133. The firm has a market capitalization of $63.80 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 5.06 and a beta of 0.67. The company's 50-day moving average is $320.20 and its two-hundred day moving average is $293.11. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93. Public Storage has a 1-year low of $233.18 and a 1-year high of $364.61.

Public Storage (NYSE:PSA - Get Free Report) last announced its 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 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 analyst estimates of $1.16 billion. During the same period in the previous year, the company earned $4.28 earnings per share. The company's quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities analysts predict that Public Storage will post 16.73 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.31%. 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.