Triton Financial Group Inc Invests $577,000 in Public Storage $PSA

Triton Financial Group Inc bought a new stake in shares of Public Storage (NYSE:PSA) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,965 shares of the real estate investment trust’s stock, valued at approximately $577,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. Vanguard Group Inc. raised its holdings in Public Storage by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock worth $6,206,046,000 after purchasing an additional 143,575 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Public Storage by 1.0% during the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock valued at $894,177,000 after buying an additional 30,775 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Public Storage by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust’s stock worth $848,425,000 after buying an additional 34,718 shares in the last quarter. Northern Trust Corp lifted its holdings in Public Storage by 2.8% in the first quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock worth $762,135,000 after buying an additional 69,882 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Public Storage by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock worth $638,805,000 after buying an additional 12,204 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

PSA stock opened at $311.70 on Tuesday. The stock’s 50 day simple moving average is $290.41 and its 200 day simple moving average is $291.90. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87. The stock has a market capitalization of $54.69 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 5.02 and a beta of 0.89.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $4.23 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, research analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $3.00 dividend. The ex-dividend date was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. Public Storage’s payout ratio is currently 130.86%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a report on Monday, October 13th. Wells Fargo & Company reduced their price target on Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Barclays decreased their price objective on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Scotiabank dropped their target price on shares of 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, Royal Bank Of Canada decreased their price target on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $324.92.

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.