Public Storage $PSA Shares Sold by Greenleaf Trust

Greenleaf Trust reduced its position in shares of Public Storage (NYSE:PSA) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,942 shares of the real estate investment trust’s stock after selling 90 shares during the period. Greenleaf Trust’s holdings in Public Storage were worth $570,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PSA. NBC Securities Inc. purchased a new stake in shares of Public Storage in the first quarter valued at approximately $135,000. Whipplewood Advisors LLC grew its position in shares of Public Storage by 356.8% in the first quarter. Whipplewood Advisors LLC now owns 169 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 132 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Public Storage by 1.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,270 shares of the real estate investment trust’s stock valued at $1,577,000 after purchasing an additional 51 shares in the last quarter. Clare Market Investments LLC grew its position in shares of Public Storage by 39.2% in the first quarter. Clare Market Investments LLC now owns 1,029 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 290 shares in the last quarter. Finally, Naples Global Advisors LLC grew its position in shares of Public Storage by 38.8% in the first quarter. Naples Global Advisors LLC now owns 2,488 shares of the real estate investment trust’s stock valued at $744,000 after purchasing an additional 695 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Evercore ISI upped their price target on Public Storage from $309.00 to $312.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. BMO Capital Markets lowered Public Storage from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. UBS Group lowered their price objective on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. JPMorgan Chase & Co. lowered their price objective on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Finally, Royal Bank Of Canada lowered their price objective on 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $322.54.

Public Storage Trading Down 0.5%

PSA opened at $289.24 on Friday. Public Storage has a 52 week low of $256.60 and a 52 week high of $356.16. The business has a fifty day simple moving average of $286.56 and a 200-day simple moving average of $291.53. The firm has a market cap of $50.75 billion, a P/E ratio of 31.54, a P/E/G ratio of 4.82 and a beta of 0.90. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS 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 business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business posted $4.23 earnings per share. The company’s quarterly 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. On average, equities analysts expect that Public Storage will post 16.7 earnings per share for the current 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 given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Monday, September 15th. Public Storage’s dividend payout ratio (DPR) 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.