Sawyer & Company Inc Raises Position in Public Storage $PSA

Sawyer & Company Inc boosted its holdings in Public Storage (NYSE:PSA) by 6.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,544 shares of the real estate investment trust’s stock after purchasing an additional 395 shares during the period. Sawyer & Company Inc’s holdings in Public Storage were worth $1,920,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Public Storage by 12.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust’s stock valued at $13,240,000 after acquiring an additional 4,746 shares during the period. Brighton Jones LLC lifted its position in Public Storage by 9.7% in the first quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 152 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Public Storage by 1.2% in the first quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust’s stock valued at $92,960,000 after purchasing an additional 3,627 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Public Storage by 228.1% during the first quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust’s stock valued at $640,000 after purchasing an additional 1,487 shares during the period. Finally, Summit Trail Advisors LLC grew its holdings in shares of Public Storage by 43.3% in the first quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust’s stock worth $1,083,000 after purchasing an additional 1,093 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSA. BNP Paribas raised shares of Public Storage to a “strong-buy” rating in a research note on Tuesday, June 24th. Evercore ISI boosted their price objective on shares of Public Storage from $309.00 to $312.00 and gave the company an “in-line” rating in a research report on Monday. Scotiabank lowered their price objective on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 28th. BMO Capital Markets cut Public Storage from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $340.00 to $325.00 in a research note on Friday, June 20th. Finally, Royal Bank Of Canada reduced their price target on Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $329.21.

Public Storage Price Performance

PSA stock opened at $284.84 on Wednesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a 50 day moving average price of $287.16 and a 200-day moving average price of $293.22. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. The firm has a market capitalization of $49.98 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 4.76 and a beta of 0.86.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities research analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, September 15th. Public Storage’s payout ratio is currently 130.86%.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.