True Wealth Design LLC Boosts Holdings in Public Storage $PSA

True Wealth Design LLC grew its stake in shares of Public Storage (NYSE:PSA) by 952.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 200 shares of the real estate investment trust’s stock after purchasing an additional 181 shares during the period. True Wealth Design LLC’s holdings in Public Storage were worth $59,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TCW Group Inc. boosted its holdings in shares of Public Storage by 5.2% during the 1st quarter. TCW Group Inc. now owns 13,696 shares of the real estate investment trust’s stock valued at $4,099,000 after acquiring an additional 676 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Public Storage during the first quarter valued at approximately $1,124,000. Vanguard Group Inc. lifted 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 valued at $6,206,046,000 after purchasing an additional 143,575 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Public Storage by 3.0% in the first quarter. The Manufacturers Life Insurance Company now owns 103,972 shares of the real estate investment trust’s stock worth $31,118,000 after purchasing an additional 2,990 shares during the last quarter. Finally, Meridian Wealth Management LLC boosted its holdings in Public Storage by 181.2% in the first quarter. Meridian Wealth Management LLC now owns 3,712 shares of the real estate investment trust’s stock worth $1,111,000 after purchasing an additional 2,392 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of Public Storage stock opened at $278.00 on Friday. The stock has a market cap of $48.78 billion, a P/E ratio of 28.87, a P/E/G ratio of 4.72 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The stock’s fifty day moving average is $291.20 and its 200 day moving average is $292.51. Public Storage has a one year low of $256.60 and a one year high of $355.87.

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

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a 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%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PSA. Evercore ISI lowered their price target on Public Storage from $317.00 to $315.00 and set an “in-line” rating on the stock in a report on Monday, November 3rd. Royal Bank Of Canada reduced their price objective on Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Finally, Barclays reduced their price target on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.38.

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.