Callan Family Office LLC Takes Position in Public Storage $PSA

Key Points

• Callan Family Office LLC has acquired a new stake in Public Storage (NYSE:PSA) amounting to 3,295 shares valued at approximately $967,000 during the second quarter.
• In the first quarter, several significant institutional investors increased their positions in Public Storage, including Nuveen LLC, which made a new position worth approximately $271 million and Goldman Sachs, which grew its position by 68.9%.
• Public Storage recently reported a quarterly EPS of $4.28, beating estimates, and announced a quarterly dividend of $3.00, representing a 4.1% yield with a payout ratio of 130.86%.

Callan Family Office LLC bought a new stake in Public Storage (NYSE:PSA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,295 shares of the real estate investment trust's stock, valued at approximately $967,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PSA. Nuveen LLC acquired a new position in shares of Public Storage during the 1st quarter worth approximately $271,196,000. Goldman Sachs Group Inc. grew its position in shares of Public Storage by 68.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust's stock worth $348,670,000 after purchasing an additional 475,342 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Public Storage by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock worth $6,206,046,000 after purchasing an additional 143,575 shares in the last quarter. Deutsche Bank AG grew its position in shares of Public Storage by 9.8% during the 1st quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust's stock worth $462,774,000 after purchasing an additional 138,486 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Public Storage during the 1st quarter worth approximately $35,178,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PSA shares. Wall Street Zen lowered shares of Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada decreased their target price on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Evercore ISI increased their price target on shares of Public Storage from $312.00 to $317.00 and gave the stock a "cautious" rating in a research report on Friday, October 3rd. BNP Paribas Exane began coverage on shares of Public Storage in a research report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 price target on the stock. Finally, Wells Fargo & Company reduced their price target on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $322.92.

Public Storage Price Performance

Shares of NYSE:PSA opened at $294.19 on Monday. The company has a market cap of $51.62 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 4.88 and a beta of 0.89. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a 50 day simple moving average of $287.61 and a 200 day simple moving average of $291.48. Public Storage has a one year low of $256.60 and a one year high of $355.87.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating the consensus estimate of $4.23 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Research analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.1%. Public Storage's dividend payout ratio is presently 130.86%.

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.

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