3,044 Shares in Public Storage $PSA Purchased by Sterling Investment Management LLC

Sterling Investment Management LLC acquired a new stake in shares of Public Storage (NYSE:PSA) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,044 shares of the real estate investment trust’s stock, valued at approximately $879,000.

Other hedge funds have also modified their holdings of the company. Marshall & Sullivan Inc. WA acquired a new stake in Public Storage in the 2nd quarter valued at $25,000. Harbor Asset Planning Inc. bought a new position in shares of Public Storage during the second quarter valued at $25,000. Asset Dedication LLC boosted its stake 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 in the last quarter. NewSquare Capital LLC grew its holdings 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 worth $31,000 after purchasing an additional 40 shares during the last quarter. Finally, SouthState Corp increased its position in shares of Public Storage by 209.4% during the 2nd quarter. SouthState Corp now owns 164 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 111 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on PSA. JPMorgan Chase & Co. restated a “neutral” rating and issued a $301.00 price target (down from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. Truist Financial reduced their target price on Public Storage from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Morgan Stanley initiated coverage on Public Storage in a research report on Friday, December 5th. They set an “equal weight” rating and a $290.00 price target on the stock. BMO Capital Markets reduced their price objective on 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. Finally, UBS Group decreased their target price on Public Storage from $295.00 to $293.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Two 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $317.80.

Public Storage Stock Up 0.7%

Shares of PSA opened at $261.26 on Wednesday. The firm has a market capitalization of $45.84 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 5.56 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. The business’s fifty day moving average price is $274.16 and its two-hundred day moving average price is $284.24. Public Storage has a 52 week low of $256.60 and a 52 week high of $322.49.

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, topping analysts’ consensus estimates of $4.24 by $0.07. The company had revenue of $1.22 billion during 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 firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is 124.61%.

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.