Public Storage $PSA Stock Position Decreased by Spire Wealth Management

Spire Wealth Management cut its stake in shares of Public Storage (NYSE:PSA) by 88.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 354 shares of the real estate investment trust’s stock after selling 2,844 shares during the quarter. Spire Wealth Management’s holdings in Public Storage were worth $104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PSA. Marshall & Sullivan Inc. WA acquired a new stake in shares of Public Storage in the second quarter worth $25,000. Harbor Asset Planning Inc. bought a new position in Public Storage during the second quarter valued at about $25,000. Spectrum Wealth Counsel LLC bought a new position in shares of Public Storage in the first quarter worth about $30,000. Winch Advisory Services LLC grew its position in Public Storage by 39.8% during the first quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 43 shares in the last quarter. Finally, IMA Advisory Services Inc. acquired a new stake in Public Storage during the first quarter worth about $53,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

PSA has been the topic of a number of recent research reports. UBS Group decreased their price objective on Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a report 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 target price for the company in a research report on Monday, October 13th. 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 report on Monday, October 27th. Royal Bank Of Canada lowered their target price on Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a report on Friday, October 31st. Finally, Evercore ISI decreased their price objective on Public Storage from $317.00 to $315.00 and set an “in-line” rating for the company in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $325.38.

Public Storage Stock Up 1.1%

NYSE PSA opened at $278.96 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. The company has a 50 day moving average of $291.89 and a 200-day moving average of $292.73. The company has a market cap of $48.94 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 4.72 and a beta of 0.91.

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 for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 35.67%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the business earned $4.20 earnings per share. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, equities research analysts expect 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. Shareholders of record on Monday, December 15th will be paid a dividend of $3.00 per share. 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 payout ratio is presently 124.61%.

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.