Public Storage $PSA Position Cut by Oxbow Advisors LLC

Oxbow Advisors LLC trimmed its stake in Public Storage (NYSE:PSA) by 4.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 943 shares of the real estate investment trust’s stock after selling 45 shares during the quarter. Oxbow Advisors LLC’s holdings in Public Storage were worth $277,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Nordea Investment Management AB lifted its stake in Public Storage by 38.1% in the second quarter. Nordea Investment Management AB now owns 29,731 shares of the real estate investment trust’s stock valued at $8,584,000 after buying an additional 8,208 shares during the last quarter. Harbor Asset Planning Inc. bought a new stake in Public Storage in the second quarter valued at $25,000. Chesapeake Wealth Management lifted its stake in Public Storage by 23.5% in the second quarter. Chesapeake Wealth Management now owns 1,952 shares of the real estate investment trust’s stock valued at $573,000 after buying an additional 372 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake in Public Storage by 9.5% in the second quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 36 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its stake in Public Storage by 3.8% in the second quarter. Ritholtz Wealth Management now owns 8,426 shares of the real estate investment trust’s stock valued at $2,472,000 after buying an additional 306 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PSA shares. Royal Bank Of Canada lowered their price target on Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. JPMorgan Chase & Co. lowered their price target on Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. BNP Paribas raised Public Storage to a “strong-buy” rating in a report on Tuesday, June 24th. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company lowered their price target on Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $324.92.

Public Storage Price Performance

NYSE:PSA opened at $306.61 on Friday. The business’s 50-day moving average price is $289.25 and its 200 day moving average price is $291.71. The firm has a market cap of $53.79 billion, a P/E ratio of 33.44, a PEG ratio of 4.91 and a beta of 0.89. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. 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 earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.Public Storage’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, sell-side analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s payout ratio is presently 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.