Public Storage $PSA Position Increased by Capital Management Associates Inc

Key Points

• Capital Management Associates Inc has increased its stake in Public Storage (NYSE: PSA) by 29.8%, owning a total of 7,679 shares valued at approximately $2.25 million.
• Public Storage reported a quarterly earnings per share of $4.28, exceeding analysts' expectations, with a revenue of $1.20 billion, reflecting a 2.4% year-over-year growth.
• The company recently declared a quarterly dividend of $3.00 per share, resulting in an annualized dividend yield of 4.1%.

Capital Management Associates Inc increased its position in shares of Public Storage (NYSE:PSA - Free Report) by 29.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,679 shares of the real estate investment trust's stock after acquiring an additional 1,761 shares during the period. Public Storage comprises approximately 0.7% of Capital Management Associates Inc's portfolio, making the stock its 22nd biggest holding. Capital Management Associates Inc's holdings in Public Storage were worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PSA. Wealth Enhancement Advisory Services LLC raised its holdings in Public Storage by 12.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust's stock valued at $13,240,000 after buying an additional 4,746 shares in the last quarter. Brighton Jones LLC raised its holdings in Public Storage by 9.7% during the first quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust's stock valued at $517,000 after buying an additional 152 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Public Storage by 1.2% during the first quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust's stock valued at $92,960,000 after buying an additional 3,627 shares in the last quarter. Private Trust Co. NA raised its holdings in Public Storage by 228.1% during the first quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust's stock valued at $640,000 after buying an additional 1,487 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its holdings in Public Storage by 43.3% during the first quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust's stock valued at $1,083,000 after buying an additional 1,093 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Down 0.0%

NYSE PSA opened at $293.39 on Thursday. 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 stock's 50 day moving average is $286.88 and its two-hundred day moving average is $291.46. The company has a market capitalization of $51.48 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 4.87 and a beta of 0.89. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.23 by $0.05. The company had revenue of $1.20 billion for 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% on a year-over-year basis. During the same period in the previous year, the business earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PSA. Wells Fargo & Company cut their target price on Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. BNP Paribas upgraded Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. dropped their price objective on Public Storage from $324.00 to $321.00 and set an "overweight" rating on the stock in a research note on Friday, September 12th. BMO Capital Markets lowered Public Storage from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $340.00 to $325.00 in a research note on Friday, June 20th. Finally, Royal Bank Of Canada dropped their price objective on Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $322.92.

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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