Chicago Partners Investment Group LLC Purchases 353 Shares of Public Storage $PSA

Chicago Partners Investment Group LLC grew its position in Public Storage (NYSE:PSA) by 44.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,142 shares of the real estate investment trust’s stock after purchasing an additional 353 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Public Storage were worth $331,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in Public Storage by 0.7% during the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock worth $6,206,046,000 after acquiring an additional 143,575 shares during the period. Wellington Management Group LLP increased its position in Public Storage by 1.0% during the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock worth $894,177,000 after acquiring an additional 30,775 shares during the period. Charles Schwab Investment Management Inc. increased its position in Public Storage by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust’s stock worth $848,425,000 after acquiring an additional 34,718 shares during the period. Northern Trust Corp increased its position in Public Storage by 2.8% during the first quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock worth $762,135,000 after acquiring an additional 69,882 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Public Storage by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock worth $638,805,000 after acquiring an additional 12,204 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 1.5%

PSA opened at $306.34 on Friday. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $355.87. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The firm’s fifty day moving average price is $292.02 and its two-hundred day moving average price is $292.36. The company has a market capitalization of $53.75 billion, a P/E ratio of 33.41, a P/E/G ratio of 5.07 and a beta of 0.89.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating the consensus estimate of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company earned $4.23 EPS. The firm’s revenue for the quarter 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. On average, analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, September 15th. Public Storage’s payout ratio is currently 130.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. UBS Group decreased their price target 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. 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, October 13th. Finally, Royal Bank Of Canada decreased 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. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.92.

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.