Middleton & Co. Inc. MA Decreases Stake in Public Storage $PSA

Middleton & Co. Inc. MA decreased its holdings in shares of Public Storage (NYSE:PSA) by 15.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,350 shares of the real estate investment trust’s stock after selling 825 shares during the quarter. Middleton & Co. Inc. MA’s holdings in Public Storage were worth $1,276,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PSA. Vanguard Group Inc. raised its holdings in Public Storage by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock valued at $6,206,046,000 after acquiring an additional 143,575 shares during the last quarter. Wellington Management Group LLP grew its position in shares of 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 valued at $894,177,000 after purchasing an additional 30,775 shares in the last quarter. Charles Schwab Investment Management Inc. increased 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 during the last quarter. Northern Trust Corp lifted its position in Public Storage by 2.8% during the first quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock worth $762,135,000 after buying an additional 69,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Public Storage by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock worth $638,805,000 after buying an additional 12,204 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PSA shares. Evercore ISI dropped their price objective on shares of Public Storage from $317.00 to $315.00 and set an “in-line” rating for the company in a report on Monday. 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 note on Thursday, August 28th. JPMorgan Chase & Co. cut their price objective on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Barclays decreased their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Finally, Royal Bank Of Canada reduced their price target on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average price target of $325.38.

Public Storage Price Performance

Shares of PSA opened at $273.77 on Friday. The company has a market cap of $48.03 billion, a P/E ratio of 28.43, a PEG ratio of 4.72 and a beta of 0.91. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $355.87. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm’s 50 day moving average price is $291.53 and its 200 day moving average price is $292.60.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company earned $4.20 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, research analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s dividend payout ratio is 124.61%.

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.