Johnson Investment Counsel Inc. Has $269,000 Holdings in Public Storage $PSA

Johnson Investment Counsel Inc. lowered its position in shares of Public Storage (NYSE:PSA) by 16.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 918 shares of the real estate investment trust’s stock after selling 185 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Public Storage were worth $269,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PSA. Marshall & Sullivan Inc. WA acquired a new position in Public Storage in the 2nd quarter valued at approximately $25,000. Spectrum Wealth Counsel LLC acquired a new position in Public Storage in the 1st quarter valued at approximately $30,000. Wayfinding Financial LLC acquired a new position in Public Storage in the 1st quarter valued at approximately $41,000. Rossby Financial LCC acquired a new position in Public Storage in the 1st quarter valued at approximately $45,000. Finally, Winch Advisory Services LLC increased its stake in Public Storage by 39.8% in the 1st quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of Public Storage stock opened at $300.87 on Thursday. 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 fifty-two week low of $256.60 and a fifty-two week high of $355.87. The firm has a fifty day moving average price of $288.79 and a two-hundred day moving average price of $291.66. The company has a market cap of $52.79 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 5.01 and a beta of 0.89.

Public Storage (NYSE:PSA) last released its quarterly earnings data 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 company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group dropped their price objective 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. Wells Fargo & Company dropped their price target on shares of Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada dropped their price target on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a research note on Monday. Finally, Wall Street Zen lowered shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $324.92.

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.