Commonwealth Equity Services LLC Decreases Position in Public Storage $PSA

Commonwealth Equity Services LLC lowered its stake in shares of Public Storage (NYSE:PSA) by 13.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,596 shares of the real estate investment trust’s stock after selling 6,512 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Public Storage were worth $12,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Marshall & Sullivan Inc. WA acquired a new stake in Public Storage in the 2nd quarter valued at about $25,000. Harbor Asset Planning Inc. purchased a new stake in shares of Public Storage during the 2nd quarter worth approximately $25,000. First Pacific Financial purchased a new stake in Public Storage in the third quarter valued at $26,000. Asset Dedication LLC lifted its holdings in shares of Public Storage by 111.1% in the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 50 shares during the last quarter. Finally, NewSquare Capital LLC boosted its position in shares of Public Storage by 60.6% in the 2nd quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 40 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Performance

Shares of PSA opened at $278.18 on Monday. The stock has a market capitalization of $48.81 billion, a P/E ratio of 28.89, a P/E/G ratio of 5.83 and a beta of 1.01. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.45 and a current ratio of 0.45. Public Storage has a 1 year low of $256.54 and a 1 year high of $322.49. The company’s fifty day moving average is $269.29 and its two-hundred day moving average is $282.71.

Public Storage (NYSE:PSA) last issued 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 net margin of 39.53% and a return on equity of 36.09%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the firm earned $4.20 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, sell-side analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a dividend of $3.00 per share. The ex-dividend date was Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 4.3%. Public Storage’s payout ratio is presently 124.61%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank Of Canada cut their price target 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. Wall Street Zen cut shares of Public Storage from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $301.00 price target (down previously from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. Wells Fargo & Company raised their price objective on shares of Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, BMO Capital Markets dropped their price objective on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price of $316.67.

Public Storage Profile

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.