WD Rutherford LLC Sells 141 Shares of Public Storage $PSA

WD Rutherford LLC lessened its position in Public Storage (NYSE:PSA) by 2.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 5,931 shares of the real estate investment trust’s stock after selling 141 shares during the period. WD Rutherford LLC’s holdings in Public Storage were worth $1,740,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Formidable Asset Management LLC lifted its holdings in shares of Public Storage by 3.4% in the 2nd quarter. Formidable Asset Management LLC now owns 3,391 shares of the real estate investment trust’s stock worth $1,002,000 after acquiring an additional 112 shares during the last quarter. Eastover Investment Advisors LLC lifted its holdings in shares of Public Storage by 1.9% in the 2nd quarter. Eastover Investment Advisors LLC now owns 22,680 shares of the real estate investment trust’s stock worth $6,655,000 after acquiring an additional 412 shares during the last quarter. Patton Fund Management Inc. purchased a new position in Public Storage in the 2nd quarter worth about $222,000. Kathmere Capital Management LLC purchased a new position in Public Storage in the 2nd quarter worth about $227,000. Finally, Novem Group purchased a new position in Public Storage in the 2nd quarter worth about $821,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the topic of several recent analyst reports. UBS Group reduced their price target on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Scotiabank reduced their price target on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. Royal Bank Of Canada cut their target price on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research report on Friday, August 1st. BNP Paribas Exane assumed coverage on shares of Public Storage in a research report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 target price on the stock. Finally, BMO Capital Markets downgraded shares of Public Storage from an “outperform” rating to a “market perform” rating and cut their target price for the company from $340.00 to $325.00 in a research report on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $322.00.

Public Storage Trading Up 2.3%

NYSE PSA opened at $286.59 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $50.28 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 4.75 and a beta of 0.86. The company’s 50-day simple moving average is $286.47 and its two-hundred day simple moving average is $291.70. Public Storage has a one year low of $256.60 and a one year high of $369.99.

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

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, September 15th. Public Storage’s dividend payout ratio (DPR) is currently 130.86%.

Public Storage 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.