Stanley Laman Group Ltd. Has $458,000 Holdings in Public Storage $PSA

Stanley Laman Group Ltd. grew its position in Public Storage (NYSE:PSA) by 15.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,560 shares of the real estate investment trust’s stock after purchasing an additional 210 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Public Storage were worth $458,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA bought a new position in Public Storage during the 2nd quarter worth $25,000. Harbor Asset Planning Inc. acquired a new position in shares of Public Storage in the second quarter valued at about $25,000. Spectrum Wealth Counsel LLC bought a new position in Public Storage during the first quarter worth about $30,000. Wayfinding Financial LLC bought a new position in Public Storage during the first quarter worth about $41,000. Finally, Winch Advisory Services LLC raised its stake in Public Storage by 39.8% in the 1st quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Performance

Shares of PSA stock opened at $307.77 on Friday. The firm has a market capitalization of $54.00 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 5.02 and a beta of 0.89. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The business’s 50-day moving average price is $289.77 and its 200-day moving average price is $291.73. Public Storage has a 12 month low of $256.60 and a 12 month high of $355.87.

Public Storage (NYSE:PSA) last issued its quarterly earnings data 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. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $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 year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, September 15th. Public Storage’s dividend payout ratio (DPR) is presently 130.86%.

Wall Street Analyst Weigh In

PSA has been the topic of a number of analyst reports. 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 research report on Monday, October 13th. BNP Paribas Exane initiated coverage on Public Storage in a research report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 price target on the stock. Royal Bank Of Canada dropped their price objective on Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. Barclays cut 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, Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $324.92.

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.