Whittier Trust Co. Buys 60 Shares of Public Storage $PSA

Whittier Trust Co. boosted its stake in shares of Public Storage (NYSE:PSA) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,881 shares of the real estate investment trust’s stock after buying an additional 60 shares during the period. Whittier Trust Co.’s holdings in Public Storage were worth $845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Public Storage by 16.7% in the first quarter. GAMMA Investing LLC now owns 1,754 shares of the real estate investment trust’s stock worth $525,000 after acquiring an additional 251 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Public Storage by 12.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,131 shares of the real estate investment trust’s stock valued at $2,434,000 after buying an additional 879 shares during the last quarter. Spire Wealth Management boosted its stake in Public Storage by 678.1% during the first quarter. Spire Wealth Management now owns 3,198 shares of the real estate investment trust’s stock valued at $957,000 after buying an additional 2,787 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in Public Storage by 1,421.6% during the first quarter. Golden State Wealth Management LLC now owns 563 shares of the real estate investment trust’s stock valued at $169,000 after buying an additional 526 shares during the last quarter. Finally, Pinnacle Bancorp Inc. boosted its stake in Public Storage by 17.2% during the first quarter. Pinnacle Bancorp Inc. now owns 498 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 73 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PSA. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective on the stock in a research report on Monday, October 13th. Wall Street Zen downgraded Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Evercore ISI raised 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. UBS Group dropped their target price on Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $324.92.

Public Storage Price Performance

Shares of Public Storage stock opened at $306.34 on Friday. 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 has a twelve month low of $256.60 and a twelve month high of $355.87. The firm has a market cap of $53.75 billion, a PE ratio of 33.41, a P/E/G ratio of 5.07 and a beta of 0.89. The business has a 50-day moving average price of $292.02 and a 200 day moving average price of $292.36.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations 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 firm posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. 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 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 3.9%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s payout ratio is presently 130.86%.

Public Storage 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.