Texas Permanent School Fund Corp Decreases Position in Public Storage $PSA

Texas Permanent School Fund Corp lowered its position in Public Storage (NYSE:PSA) by 34.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,095 shares of the real estate investment trust’s stock after selling 5,932 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Public Storage were worth $3,255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PSA. Jump Financial LLC purchased a new position in Public Storage during the first quarter worth $1,124,000. The Manufacturers Life Insurance Company lifted its position in shares of Public Storage by 3.0% in the first quarter. The Manufacturers Life Insurance Company now owns 103,972 shares of the real estate investment trust’s stock valued at $31,118,000 after acquiring an additional 2,990 shares in the last quarter. Clear Creek Financial Management LLC acquired a new stake in shares of Public Storage during the second quarter valued at $342,000. Cbre Investment Management Listed Real Assets LLC increased its position in Public Storage by 29.0% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 339,993 shares of the real estate investment trust’s stock worth $101,757,000 after purchasing an additional 76,444 shares in the last quarter. Finally, Diversified Trust Co acquired a new position in Public Storage in the 2nd quarter valued at about $418,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Down 0.8%

Shares of PSA opened at $259.26 on Friday. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $322.49. The company’s fifty day moving average is $280.39 and its two-hundred day moving average is $286.42. The firm has a market cap of $45.49 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 5.60 and a beta of 1.01. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s payout ratio is currently 124.61%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PSA shares. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. BMO Capital Markets lowered their target price on shares of Public Storage from $325.00 to $320.00 and set a “market perform” rating for the company in a research note on Monday, November 24th. Morgan Stanley began coverage on Public Storage in a report on Friday, December 5th. They issued an “equal weight” rating and a $290.00 price target for the company. Scotiabank decreased their price objective on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a research report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $319.87.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.