Jackson Thornton Wealth Management LLC Invests $251,000 in Public Storage $PSA

Key Points

• Jackson Thornton Wealth Management LLC invested approximately $251,000 in Public Storage, acquiring 862 shares during the second quarter.
• Public Storage announced a quarterly dividend of $3.00 per share, which reflects an annualized yield of 3.8%, despite a high payout ratio of 130.86%.
• Deutsche Bank upgraded Public Storage from a "hold" to a "buy" rating with a target price of $325.00, amid positive analyst sentiment around the stock.

Jackson Thornton Wealth Management LLC purchased a new position in shares of Public Storage (NYSE:PSA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 862 shares of the real estate investment trust's stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Planning Co of New England Inc. lifted its holdings in Public Storage by 1.6% in the first quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust's stock valued at $624,000 after buying an additional 33 shares during the period. Whitener Capital Management Inc. lifted its holdings in Public Storage by 2.3% in the second quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust's stock valued at $472,000 after buying an additional 36 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in Public Storage by 9.5% in the second quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust's stock valued at $122,000 after buying an additional 36 shares during the period. Mather Group LLC. lifted its holdings in Public Storage by 4.6% in the second quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust's stock valued at $253,000 after buying an additional 38 shares during the period. Finally, Evermay Wealth Management LLC lifted its holdings in Public Storage by 13.3% in the second quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust's stock valued at $95,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Trading Up 1.3%

PSA opened at $311.70 on Tuesday. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The company has a market cap of $54.69 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 5.02 and a beta of 0.89. The company has a fifty day moving average price of $290.41 and a two-hundred day moving average price of $291.90.

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, topping the consensus estimate of $4.23 by $0.05. The company 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 for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. Public Storage's payout ratio is presently 130.86%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PSA shares. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $325.00 target price on the stock in a report on Monday, October 13th. BNP Paribas Exane started coverage on shares of Public Storage in a report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Evercore ISI lifted their price target on shares of Public Storage from $312.00 to $317.00 and gave the company a "cautious" rating in a research note on Friday, October 3rd. Finally, BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $324.92.

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.

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