Clear Creek Financial Management LLC Acquires Shares of 1,165 Public Storage $PSA

Key Points

• Clear Creek Financial Management LLC has acquired a new stake in Public Storage (NYSE:PSA), purchasing 1,165 shares valued at approximately $342,000 during the second quarter.
• Public Storage has recently received several rating changes from analysts, including a downgrade by BMO Capital Markets from "outperform" to "market perform" with a lowered price target of $325.00.
• The company declared a quarterly dividend of $3.00 per share, reflecting a 4.1% dividend yield with a payout ratio of 130.86%.

Clear Creek Financial Management LLC acquired a new stake in Public Storage (NYSE:PSA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,165 shares of the real estate investment trust's stock, valued at approximately $342,000.

Other institutional investors have also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA bought a new position in Public Storage in the 2nd quarter valued at $25,000. Spectrum Wealth Counsel LLC bought a new position in Public Storage in the 1st quarter valued at $30,000. Opal Wealth Advisors LLC bought a new position in Public Storage in the 1st quarter valued at $36,000. Wayfinding Financial LLC bought a new position in Public Storage in the 1st quarter valued at $41,000. Finally, Rossby Financial LCC bought a new position in shares of Public Storage during the 1st quarter worth $45,000. Institutional investors own 78.79% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSA. BMO Capital Markets downgraded Public Storage from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $340.00 to $325.00 in a research note on Friday, June 20th. Barclays cut their price target on Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Wall Street Zen downgraded Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada cut their price target on Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Finally, Evercore ISI increased their price target on Public Storage from $312.00 to $317.00 and gave the stock a "cautious" rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Public Storage presently has an average rating of "Moderate Buy" and an average price target of $322.92.

Public Storage Stock Performance

Shares of PSA opened at $294.19 on Friday. The stock's 50-day simple moving average is $287.61 and its 200 day simple moving average is $291.49. The stock has a market capitalization of $51.62 billion, a price-to-earnings ratio of 32.08, a price-to-earnings-growth ratio of 4.88 and a beta of 0.89. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. Public Storage has a 52-week low of $256.60 and a 52-week 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.23 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Research analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

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

About Public Storage

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.