Montrusco Bolton Investments Inc. Has $220.26 Million Stock Position in Public Storage $PSA

Montrusco Bolton Investments Inc. boosted its position in Public Storage (NYSE:PSA - Free Report) by 7.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 769,793 shares of the real estate investment trust's stock after buying an additional 54,763 shares during the period. Public Storage makes up 2.4% of Montrusco Bolton Investments Inc.'s holdings, making the stock its 16th biggest holding. Montrusco Bolton Investments Inc. owned about 0.44% of Public Storage worth $220,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Planning Co of New England Inc. increased its position in shares of Public Storage by 1.6% during the first quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust's stock worth $624,000 after acquiring an additional 33 shares in the last quarter. Shum Financial Group Inc. increased its stake in Public Storage by 1.7% in the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust's stock valued at $625,000 after buying an additional 35 shares during the last quarter. Whitener Capital Management Inc. increased its stake in Public Storage by 2.3% in the 2nd 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 last quarter. Mather Group LLC. increased its stake in Public Storage by 4.6% in the 2nd 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 last quarter. Finally, Meeder Advisory Services Inc. increased its stake in Public Storage by 1.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust's stock valued at $1,072,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Performance

NYSE PSA opened at $294.19 on Monday. Public Storage has a 1 year low of $256.60 and a 1 year high of $355.87. 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 stock has a market capitalization of $51.62 billion, a PE ratio of 32.08, a P/E/G ratio of 4.88 and a beta of 0.89. The company's 50 day simple moving average is $287.61 and its two-hundred day simple moving average is $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 earnings per share (EPS) 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 business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the company posted $4.23 EPS. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Scotiabank decreased their price objective on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 28th. BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Barclays reduced their target price on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Public Storage in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $322.92.

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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