Massachusetts Financial Services Co. MA Has $247.20 Million Stake in Public Storage $PSA

Massachusetts Financial Services Co. MA reduced its stake in Public Storage (NYSE:PSA) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 855,805 shares of the real estate investment trust’s stock after selling 15,758 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.49% of Public Storage worth $247,199,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. bought a new stake in shares of Public Storage in the second quarter valued at about $25,000. First Pacific Financial acquired a new stake in Public Storage in the 3rd quarter valued at approximately $26,000. Asset Dedication LLC raised its position in 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 buying an additional 50 shares during the last quarter. NewSquare Capital LLC lifted its stake in 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 acquiring an additional 40 shares in the last quarter. Finally, Tradewinds Capital Management LLC acquired a new position in Public Storage during the 3rd quarter worth approximately $33,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Up 0.4%

Shares of NYSE:PSA opened at $294.29 on Tuesday. Public Storage has a 52-week low of $256.54 and a 52-week high of $322.49. The company has a market capitalization of $51.64 billion, a P/E ratio of 30.56, a price-to-earnings-growth ratio of 7.16 and a beta of 1.01. The company has a 50-day simple moving average of $270.74 and a 200 day simple moving average of $282.46. 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 (NYSE:PSA) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Sell-side analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, December 15th. Public Storage’s dividend payout ratio is 124.61%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PSA. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective on the stock in a report on Monday, October 13th. Mizuho lowered their price target on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. The Goldman Sachs Group reduced their price objective on shares of Public Storage from $332.00 to $321.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Evercore ISI decreased their price objective on Public Storage from $309.00 to $305.00 in a report on Monday, January 12th. 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, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $315.56.

Public Storage Company 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.