SGL Investment Advisors Inc. Buys 252 Shares of Public Storage $PSA

SGL Investment Advisors Inc. lifted its stake in shares of Public Storage (NYSE:PSA) by 1.8% during the second quarter, Holdings Channel.com reports. The firm owned 14,422 shares of the real estate investment trust’s stock after acquiring an additional 252 shares during the period. Public Storage accounts for about 2.0% of SGL Investment Advisors Inc.’s portfolio, making the stock its 19th biggest position. SGL Investment Advisors Inc.’s holdings in Public Storage were worth $4,194,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA acquired a new position in shares of Public Storage during the second quarter worth approximately $25,000. Spectrum Wealth Counsel LLC bought a new stake in Public Storage during the 1st quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new position in Public Storage during the first quarter worth $36,000. Wayfinding Financial LLC bought a new position in shares of Public Storage in the first quarter valued at $41,000. Finally, Winch Advisory Services LLC lifted its stake in shares of Public Storage by 39.8% in the first quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 43 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PSA shares. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research report on Saturday, September 27th. Barclays decreased their price objective on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Evercore ISI upped their price target on Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a report on Friday. Wells Fargo & Company dropped their price objective on Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Finally, Scotiabank reduced their target price on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.92.

Public Storage Price Performance

PSA opened at $290.69 on Tuesday. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $355.87. The firm has a 50-day moving average of $286.78 and a 200 day moving average of $291.43. 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 firm has a market cap of $51.00 billion, a P/E ratio of 31.70, a PEG ratio of 4.87 and a beta of 0.89.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company earned $4.23 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, research analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s dividend payout ratio (DPR) is currently 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.