Teacher Retirement System of Texas Buys 6,067 Shares of Public Storage $PSA

Teacher Retirement System of Texas raised its stake in shares of Public Storage (NYSE:PSA) by 13.0% in the second quarter, Holdings Channel reports. The fund owned 52,823 shares of the real estate investment trust’s stock after acquiring an additional 6,067 shares during the period. Teacher Retirement System of Texas’ holdings in Public Storage were worth $15,499,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PSA. Marshall & Sullivan Inc. WA bought a new position in shares of Public Storage in the second quarter valued at about $25,000. Harbor Asset Planning Inc. bought a new stake in shares of Public Storage in the 2nd quarter valued at about $25,000. Spectrum Wealth Counsel LLC bought a new stake in shares of Public Storage in the 1st quarter valued at about $30,000. Wayfinding Financial LLC bought a new stake in shares of Public Storage in the 1st quarter valued at about $41,000. Finally, Rossby Financial LCC bought a new stake in shares of Public Storage in the 1st quarter valued at about $45,000. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PSA shares. Deutsche Bank Aktiengesellschaft upgraded 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. JPMorgan Chase & Co. dropped their price objective on Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Wells Fargo & Company upped their price objective on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Finally, UBS Group decreased their price objective on Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.69.

Public Storage Stock Down 0.9%

PSA stock opened at $297.63 on Wednesday. The stock has a market capitalization of $52.22 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 4.90 and a beta of 0.89. 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 firm has a 50-day moving average price of $293.01 and a 200-day moving average price of $293.13.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.23 earnings per share. As a group, equities research analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s dividend payout ratio (DPR) is presently 130.86%.

About Public Storage

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.