CWA Asset Management Group LLC Sells 2,029 Shares of Public Storage $PSA

CWA Asset Management Group LLC trimmed its stake in Public Storage (NYSE:PSA) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,488 shares of the real estate investment trust’s stock after selling 2,029 shares during the period. CWA Asset Management Group LLC’s holdings in Public Storage were worth $13,054,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Versant Capital Management Inc lifted its stake in shares of Public Storage by 249.4% during the 1st quarter. Versant Capital Management Inc now owns 828 shares of the real estate investment trust’s stock worth $248,000 after acquiring an additional 591 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Public Storage by 34,827.1% during the 1st quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust’s stock worth $157,114,000 after acquiring an additional 523,452 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Public Storage by 4.0% during the 1st quarter. Parallel Advisors LLC now owns 2,041 shares of the real estate investment trust’s stock worth $611,000 after acquiring an additional 78 shares during the last quarter. Doliver Advisors LP lifted its stake in shares of Public Storage by 8.6% during the 1st quarter. Doliver Advisors LP now owns 1,571 shares of the real estate investment trust’s stock worth $470,000 after acquiring an additional 125 shares during the last quarter. Finally, Atlas Brown Inc. lifted its stake in shares of Public Storage by 2.1% during the 1st quarter. Atlas Brown Inc. now owns 2,176 shares of the real estate investment trust’s stock worth $651,000 after acquiring an additional 45 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on Public Storage from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. BMO Capital Markets lowered Public Storage from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $340.00 to $325.00 in a research note on Friday, June 20th. Scotiabank decreased their target price on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. Barclays decreased their target price on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Finally, BNP Paribas Exane assumed coverage on Public Storage in a research report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 target price for the company. One 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 stock. According to data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and an average price target of $322.00.

Public Storage Trading Up 2.3%

Shares of NYSE PSA opened at $286.59 on Friday. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The business has a fifty day simple moving average of $286.47 and a two-hundred day simple moving average of $291.70. The firm has a market cap of $50.28 billion, a PE ratio of 31.25, a price-to-earnings-growth ratio of 4.75 and a beta of 0.86. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted $4.23 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Analysts expect that Public Storage will post 16.7 earnings per share 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 issued a $3.00 dividend. The ex-dividend date is Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.2%. Public Storage’s dividend payout ratio (DPR) is currently 130.86%.

Public Storage Company 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.