Carnegie Investment Counsel Has $32.57 Million Holdings in Public Storage $PSA

Carnegie Investment Counsel boosted its holdings in shares of Public Storage (NYSE:PSA) by 23.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,769 shares of the real estate investment trust’s stock after purchasing an additional 21,073 shares during the period. Carnegie Investment Counsel owned 0.06% of Public Storage worth $32,573,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PSA. Marshall & Sullivan Inc. WA acquired a new stake in shares of Public Storage in the second quarter valued at $25,000. Harbor Asset Planning Inc. acquired a new position in Public Storage during the 2nd quarter worth about $25,000. Asset Dedication LLC grew its holdings in Public Storage by 111.1% during the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 50 shares during the last quarter. NewSquare Capital LLC grew its holdings in Public Storage by 60.6% during the 2nd quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 40 shares during the last quarter. Finally, SouthState Corp increased its position in Public Storage by 209.4% in the 2nd quarter. SouthState Corp now owns 164 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 111 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

PSA stock opened at $260.69 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99. Public Storage has a twelve month low of $256.60 and a twelve month high of $322.49. The business’s fifty day moving average is $276.15 and its 200-day moving average is $284.98. The company has a market cap of $45.74 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 5.62 and a beta of 1.01.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.07. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm posted $4.20 earnings per share. The company’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. Equities research analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 4.6%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Wall Street Analyst Weigh In

PSA has been the topic of a number of research reports. Evercore ISI reduced their target price on shares of Public Storage from $315.00 to $309.00 and set an “in-line” rating on the stock in a research report on Monday, December 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $301.00 price objective (down from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. Truist Financial lowered their target price on Public Storage from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Raymond James Financial cut their price target on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and an average target price of $317.80.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.