Public Storage $PSA Shares Sold by XML Financial LLC

XML Financial LLC trimmed its holdings in shares of Public Storage (NYSE:PSA) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,953 shares of the real estate investment trust’s stock after selling 101 shares during the period. XML Financial LLC’s holdings in Public Storage were worth $2,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PSA. Parallel Advisors LLC lifted its position in Public Storage by 4.0% during the first quarter. Parallel Advisors LLC now owns 2,041 shares of the real estate investment trust’s stock valued at $611,000 after purchasing an additional 78 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in shares of Public Storage by 3.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,588 shares of the real estate investment trust’s stock valued at $475,000 after buying an additional 58 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Public Storage by 2.3% in the 1st quarter. Rhumbline Advisers now owns 351,404 shares of the real estate investment trust’s stock valued at $105,172,000 after buying an additional 8,064 shares during the period. Czech National Bank boosted its stake in shares of Public Storage by 5.9% in the first quarter. Czech National Bank now owns 36,197 shares of the real estate investment trust’s stock worth $10,833,000 after buying an additional 2,027 shares during the last quarter. Finally, Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Public Storage during the 1st quarter worth about $268,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PSA shares. Royal Bank Of Canada reduced 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 report on Friday, August 1st. JPMorgan Chase & Co. decreased their target price on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. BMO Capital Markets lowered Public Storage from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. Finally, Evercore ISI boosted their price target on shares of Public Storage from $309.00 to $312.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $322.00.

Public Storage Stock Up 0.7%

PSA opened at $288.25 on Tuesday. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99. The business has a 50 day moving average price of $286.55 and a two-hundred day moving average price of $291.63. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The company has a market cap of $50.57 billion, a PE ratio of 31.43, a P/E/G ratio of 4.75 and a beta of 0.86.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating 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 company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted $4.23 EPS. 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 anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

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

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.