Ellsworth Advisors LLC Has $5.55 Million Stock Position in Public Storage $PSA

Key Points

• Ellsworth Advisors LLC reduced its stake in Public Storage by 19.0%, owning 18,558 shares worth approximately $5.55 million, making it the firm's 19th largest investment.
• Public Storage recently reported a quarterly earnings per share of $4.28, surpassing analysts' expectations of $4.23, with a year-over-year revenue increase of 2.4%.
• The company announced a dividend of $3.00 per share to be paid on September 30th, representing an annualized yield of 4.2% with a payout ratio of 130.86%.

Ellsworth Advisors LLC reduced its position in shares of Public Storage (NYSE:PSA - Free Report) by 19.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,558 shares of the real estate investment trust's stock after selling 4,358 shares during the period. Public Storage makes up approximately 1.5% of Ellsworth Advisors LLC's investment portfolio, making the stock its 19th biggest position. Ellsworth Advisors LLC's holdings in Public Storage were worth $5,554,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PSA. Cresset Asset Management LLC raised its position in Public Storage by 200.9% during the fourth quarter. Cresset Asset Management LLC now owns 2,392 shares of the real estate investment trust's stock valued at $716,000 after purchasing an additional 1,597 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Public Storage by 249.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 25,105 shares of the real estate investment trust's stock worth $7,517,000 after buying an additional 17,923 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Public Storage by 60.0% during the fourth quarter. Focus Partners Wealth now owns 13,971 shares of the real estate investment trust's stock worth $4,614,000 after buying an additional 5,237 shares in the last quarter. OMERS ADMINISTRATION Corp increased its holdings in shares of Public Storage by 20.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 6,632 shares of the real estate investment trust's stock worth $1,986,000 after buying an additional 1,122 shares in the last quarter. Finally, NorthRock Partners LLC acquired a new position in shares of Public Storage during the fourth quarter worth $667,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Performance

Shares of Public Storage stock opened at $289.06 on Thursday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The stock has a market cap of $50.71 billion, a price-to-earnings ratio of 31.52, a P/E/G ratio of 4.82 and a beta of 0.86. The company's fifty day moving average is $287.49 and its 200 day moving average is $293.72.

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 for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the firm posted $4.23 earnings per share. Public Storage's revenue for the quarter was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Sell-side analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.2%. Public Storage's payout ratio is currently 130.86%.

Wall Street Analyst Weigh In

PSA has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a report on Monday, August 4th. Barclays lowered their price target on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a report on Friday, August 8th. BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of Public Storage from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Mizuho upped their price target on shares of Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Public Storage presently has a consensus rating of "Moderate Buy" and an average target price of $331.62.

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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