First Personal Financial Services Purchases 207 Shares of Public Storage (NYSE:PSA)

First Personal Financial Services increased its holdings in Public Storage (NYSE:PSA) by 0.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,939 shares of the real estate investment trust’s stock after purchasing an additional 207 shares during the period. Public Storage makes up about 2.1% of First Personal Financial Services’ holdings, making the stock its 19th biggest holding. First Personal Financial Services’ holdings in Public Storage were worth $9,187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Gryphon Financial Partners LLC increased its stake in shares of Public Storage by 2.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock worth $476,000 after buying an additional 38 shares during the period. Signet Financial Management LLC boosted its position in Public Storage by 2.1% during the 1st quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock valued at $555,000 after acquiring an additional 39 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Public Storage by 0.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock valued at $1,201,000 after purchasing an additional 39 shares in the last quarter. Brookstone Capital Management boosted its holdings in shares of Public Storage by 3.4% during the 1st quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock valued at $354,000 after buying an additional 40 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its holdings in Public Storage by 3.5% in the first quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 42 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Price Performance

PSA stock traded up $2.00 during midday trading on Friday, reaching $343.72. The stock had a trading volume of 930,977 shares, compared to its average volume of 711,902. The company’s fifty day simple moving average is $306.61 and its 200 day simple moving average is $287.79. The company has a market cap of $60.40 billion, a price-to-earnings ratio of 31.22, a price-to-earnings-growth ratio of 5.28 and a beta of 0.65. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. Public Storage has a 52-week low of $233.18 and a 52-week high of $344.32.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The firm had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business posted $4.28 earnings per share. Public Storage’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Public Storage will post 16.74 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $3.00 dividend. The ex-dividend date is Friday, September 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.49%. Public Storage’s dividend payout ratio (DPR) is 108.99%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PSA. Barclays raised their price objective on shares of Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a report on Thursday, August 1st. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target on the stock. in a research note on Monday, August 5th. Scotiabank raised their target price on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Citigroup boosted their price objective on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $323.77.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 400 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $274.29, for a total value of $109,716.00. Following the transaction, the insider now owns 3,214 shares of the company’s stock, valued at $881,568.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.00% of the stock is currently owned by insiders.

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.