Cwm LLC Grows Holdings in Public Storage $PSA

Key Points

• Cwm LLC increased its holdings in Public Storage (PSA) by 16.0% during the 2nd quarter, bringing their total shares owned to 98,680, valued at approximately $28.96 million.
• Public Storage's recent earnings report showed an EPS of $4.28, beating analyst estimates, with a quarterly revenue of $1.20 billion, reflecting a year-over-year increase of 2.4%.
• The company announced a quarterly dividend of $3.00 per share, resulting in an annualized dividend yield of 4.1%, though the dividend payout ratio sits at 130.86%.

Cwm LLC increased its position in Public Storage (NYSE:PSA - Free Report) by 16.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,680 shares of the real estate investment trust's stock after acquiring an additional 13,598 shares during the quarter. Cwm LLC owned about 0.06% of Public Storage worth $28,955,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSA. Nuveen LLC purchased a new stake in Public Storage in the 1st quarter worth approximately $271,196,000. Goldman Sachs Group Inc. increased its holdings in Public Storage by 68.9% in 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 acquiring an additional 475,342 shares in the last quarter. Vanguard Group Inc. increased 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 worth $6,206,046,000 after acquiring an additional 143,575 shares in the last quarter. Deutsche Bank AG increased its holdings in Public Storage by 9.8% in 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 acquiring an additional 138,486 shares in the last quarter. Finally, Strs Ohio bought a new position in Public Storage in the 1st quarter worth approximately $35,178,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PSA shares. Wall Street Zen downgraded Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. dropped their price target on Public Storage from $324.00 to $321.00 and set an "overweight" rating for the company in a research note on Friday, September 12th. BMO Capital Markets downgraded Public Storage from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $340.00 to $325.00 in a research note on Friday, June 20th. BNP Paribas Exane started coverage on Public Storage in a research note on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 price target for the company. Finally, Royal Bank Of Canada dropped 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Public Storage has a consensus rating of "Moderate Buy" and a consensus price target of $322.92.

Public Storage Stock Up 0.1%

NYSE PSA opened at $294.19 on Monday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $51.62 billion, a P/E ratio of 32.08, a P/E/G ratio of 4.88 and a beta of 0.89. Public Storage has a one year low of $256.60 and a one year high of $355.87. The stock has a 50 day moving average price of $287.61 and a 200-day moving average price of $291.48.

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

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, September 15th. Public Storage's dividend payout ratio is currently 130.86%.

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.

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