Pasadena Private Wealth LLC Sells 94 Shares of Public Storage $PSA

Pasadena Private Wealth LLC lowered its position in Public Storage (NYSE:PSA) by 5.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,586 shares of the real estate investment trust’s stock after selling 94 shares during the period. Pasadena Private Wealth LLC’s holdings in Public Storage were worth $465,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Public Storage by 0.7% in the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock worth $6,206,046,000 after acquiring an additional 143,575 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Public Storage by 1.0% in the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock worth $894,177,000 after acquiring an additional 30,775 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Public Storage by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust’s stock valued at $848,425,000 after purchasing an additional 34,718 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Public Storage by 2.8% in the first quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock valued at $762,135,000 after purchasing an additional 69,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Public Storage by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock valued at $638,805,000 after purchasing an additional 12,204 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $302.52 on Monday. 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 company has a market capitalization of $53.08 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 4.93 and a beta of 0.89. The stock has a 50 day moving average of $292.41 and a 200 day moving average of $292.87. 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 results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. The company had revenue of $1.20 billion during 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%.Public Storage’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, sell-side analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently declared 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. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s dividend payout ratio (DPR) is presently 130.86%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PSA shares. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a report on Monday, October 13th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a report on Saturday. Royal Bank Of Canada dropped their target price 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. Finally, Barclays dropped their target price on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price 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.