Metis Global Partners LLC Has $9.35 Million Stake in Public Storage $PSA

Metis Global Partners LLC boosted its position in Public Storage (NYSE:PSA) by 21.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 31,857 shares of the real estate investment trust’s stock after buying an additional 5,583 shares during the period. Metis Global Partners LLC’s holdings in Public Storage were worth $9,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PSA. Retirement Planning Co of New England Inc. increased its holdings in shares of Public Storage by 1.6% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock worth $624,000 after buying an additional 33 shares during the last quarter. Whitener Capital Management Inc. increased its stake in Public Storage by 2.3% in the second quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock valued at $472,000 after acquiring an additional 36 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in Public Storage by 9.5% during the second quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 36 shares in the last quarter. Mather Group LLC. lifted its stake in Public Storage by 4.6% during the second quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust’s stock worth $253,000 after purchasing an additional 38 shares during the last quarter. Finally, Evermay Wealth Management LLC boosted its holdings in shares of Public Storage by 13.3% in the 2nd quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock worth $95,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 1.5%

PSA opened at $278.00 on Friday. Public Storage has a 52 week low of $256.60 and a 52 week high of $355.87. The stock has a market cap of $48.78 billion, a PE ratio of 28.87, a PEG ratio of 4.72 and a beta of 0.91. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The business has a 50 day moving average of $291.20 and a 200-day moving average of $292.53.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.07. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 35.67%. Public Storage’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business earned $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities research analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s dividend payout ratio is currently 124.61%.

Analysts Set New Price Targets

PSA has been the topic of several recent research reports. Royal Bank Of Canada reduced their price objective on Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. 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. Wells Fargo & Company upped their price objective on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Evercore ISI reduced their target price on shares of Public Storage from $317.00 to $315.00 and set an “in-line” rating on the stock in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $325.38.

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.