Inspire Investing LLC Sells 187 Shares of Public Storage $PSA

Inspire Investing LLC cut its holdings in Public Storage (NYSE:PSA) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,582 shares of the real estate investment trust’s stock after selling 187 shares during the period. Inspire Investing LLC’s holdings in Public Storage were worth $464,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PSA. Farther Finance Advisors LLC lifted its holdings in Public Storage by 28.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,246 shares of the real estate investment trust’s stock worth $671,000 after purchasing an additional 499 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Public Storage by 16.7% in the 1st quarter. GAMMA Investing LLC now owns 1,754 shares of the real estate investment trust’s stock worth $525,000 after purchasing an additional 251 shares in the last quarter. Focus Financial Network Inc. purchased a new position in Public Storage in the 1st quarter worth approximately $200,000. Simon Quick Advisors LLC purchased a new position in Public Storage in the 1st quarter worth approximately $335,000. Finally, CVA Family Office LLC lifted its holdings in Public Storage by 24.6% in the 1st quarter. CVA Family Office LLC now owns 238 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 47 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

Shares of PSA stock opened at $294.19 on Monday. The stock’s 50-day moving average is $287.61 and its 200 day moving average is $291.48. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. The company has a market cap of $51.62 billion, a P/E ratio of 32.08, a PEG ratio of 4.88 and a beta of 0.89.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business posted $4.23 earnings per share. The firm’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. Research analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 yield of 4.1%. Public Storage’s dividend payout ratio (DPR) is 130.86%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Scotiabank lowered their price target on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Wells Fargo & Company decreased their price objective on Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen cut Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. BMO Capital Markets cut Public Storage from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $340.00 to $325.00 in a report on Friday, June 20th. Finally, Evercore ISI upped their price objective on Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and an average price target of $322.92.

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.