Osaic Holdings Inc. Purchases 9,734 Shares of Public Storage $PSA

Osaic Holdings Inc. raised its position in Public Storage (NYSE:PSA) by 27.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 44,646 shares of the real estate investment trust’s stock after buying an additional 9,734 shares during the quarter. Osaic Holdings Inc.’s holdings in Public Storage were worth $13,113,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Retirement Planning Co of New England Inc. raised its holdings in shares of Public Storage by 1.6% in the first quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock valued at $624,000 after purchasing an additional 33 shares during the last quarter. Whitener Capital Management Inc. grew its position in Public Storage by 2.3% in the second quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock valued at $472,000 after purchasing an additional 36 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in Public Storage by 9.5% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 36 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in Public Storage by 3.5% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 36 shares in the last quarter. Finally, Mather Group LLC. lifted its position in Public Storage by 4.6% during the 2nd quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PSA shares. Mizuho decreased their price objective on Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Morgan Stanley started coverage on Public Storage in a research note on Friday, December 5th. They issued an “equal weight” rating and a $290.00 price target for the company. Wells Fargo & Company upped their price objective on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Raymond James Financial cut their price objective on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $319.87.

Public Storage Stock Performance

Shares of NYSE PSA opened at $259.26 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $45.49 billion, a P/E ratio of 26.92, a P/E/G ratio of 5.60 and a beta of 1.01. Public Storage has a 12 month low of $256.60 and a 12 month high of $322.49. The stock has a 50 day moving average of $280.39 and a 200-day moving average of $286.42.

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 (EPS) 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 business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm posted $4.20 EPS. 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. As a group, equities research analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $3.00 dividend. The ex-dividend date is Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.6%. Public Storage’s dividend payout ratio is 124.61%.

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.