Public Storage (NYSE:PSA) Holdings Lowered by Linscomb Wealth Inc.

Linscomb Wealth Inc. trimmed its stake in shares of Public Storage (NYSE:PSA) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,115 shares of the real estate investment trust’s stock after selling 96 shares during the period. Linscomb Wealth Inc.’s holdings in Public Storage were worth $608,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Private Advisor Group LLC lifted its position in shares of Public Storage by 2.0% in the fourth quarter. Private Advisor Group LLC now owns 4,587 shares of the real estate investment trust’s stock worth $1,399,000 after purchasing an additional 92 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in Public Storage by 2.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock valued at $476,000 after buying an additional 38 shares during the period. AGF Management Ltd. purchased a new stake in Public Storage in the 4th quarter worth approximately $865,000. Johnson Investment Counsel Inc. boosted its stake in shares of Public Storage by 25.6% during the 4th quarter. Johnson Investment Counsel Inc. now owns 1,164 shares of the real estate investment trust’s stock valued at $355,000 after buying an additional 237 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Public Storage during the 4th quarter valued at $1,301,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PSA shares. Wolfe Research raised Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Bank of America lowered Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target for the company. in a report on Monday, August 5th. Citigroup increased their price objective on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada assumed coverage on shares of Public Storage in a research note on Tuesday. They issued a “sector perform” rating and a $358.00 target price for the company. Finally, Evercore ISI increased their price target on shares of Public Storage from $330.00 to $334.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.21.

Public Storage Trading Up 0.0 %

Shares of PSA stock opened at $359.23 on Thursday. Public Storage has a 12 month low of $233.18 and a 12 month high of $361.23. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72. The business’s 50 day moving average is $317.38 and its two-hundred day moving average is $291.90. The company has a market cap of $62.87 billion, a PE ratio of 32.63, a price-to-earnings-growth ratio of 5.72 and a beta of 0.67.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The company had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned $4.28 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts predict that Public Storage will post 16.72 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Friday, September 13th. Public Storage’s dividend payout ratio (DPR) is currently 108.99%.

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.