Segment Wealth Management LLC Has $1.56 Million Position in Public Storage $PSA

Segment Wealth Management LLC increased its position in shares of Public Storage (NYSE:PSA) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,319 shares of the real estate investment trust’s stock after purchasing an additional 340 shares during the period. Segment Wealth Management LLC’s holdings in Public Storage were worth $1,561,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PSA. Evercore ISI raised their price target on Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a research report on Friday. Royal Bank Of Canada decreased their price target on Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research report on Friday, August 1st. UBS Group decreased their price target on Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 16th. Wall Street Zen cut Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Finally, Scotiabank decreased their price target on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $322.92.

Public Storage Price Performance

Public Storage stock opened at $293.74 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. Public Storage has a 52 week low of $256.60 and a 52 week high of $355.87. The stock has a market capitalization of $51.54 billion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 4.80 and a beta of 0.89. The stock has a fifty day moving average of $286.68 and a 200-day moving average of $291.49.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping 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 company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the firm earned $4.23 EPS. Public Storage’s revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, sell-side analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $3.00 per share. The ex-dividend date was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. 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.