Public Storage $PSA Shares Sold by 1834 Investment Advisors Co.

Key Points

• 1834 Investment Advisors Co. decreased its stake in Public Storage ($PSA) by 10.6%, selling 1,279 shares and leaving them with a total of 10,733 shares valued at $3,149,000.
• Public Storage recently reported a quarterly earnings per share of $4.28, exceeding analysts' expectations, and has set its fiscal year 2025 guidance at $16.450-17.00 EPS.
• The company declared a quarterly dividend of $3.00 per share, representing a 4.2% yield with a payout ratio of 130.86%.

1834 Investment Advisors Co. decreased its position in Public Storage (NYSE:PSA - Free Report) by 10.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,733 shares of the real estate investment trust's stock after selling 1,279 shares during the quarter. 1834 Investment Advisors Co.'s holdings in Public Storage were worth $3,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PSA. Marshall & Sullivan Inc. WA acquired a new position in shares of Public Storage during the 2nd quarter valued at about $25,000. Ameriflex Group Inc. acquired a new position in shares of Public Storage during the 4th quarter valued at about $30,000. Spectrum Wealth Counsel LLC acquired a new position in shares of Public Storage during the 1st quarter valued at about $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage during the 1st quarter valued at about $36,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Public Storage during the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PSA shares. Royal Bank Of Canada dropped their price objective on shares of 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. Wells Fargo & Company dropped 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. BNP Paribas upgraded Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. Barclays decreased their target price on Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Finally, Evercore ISI boosted their target price on Public Storage from $309.00 to $312.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $322.00.

Public Storage Stock Up 2.3%

NYSE PSA opened at $286.59 on Friday. The stock has a market cap of $50.28 billion, a PE ratio of 31.25, a P/E/G ratio of 4.65 and a beta of 0.86. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The business has a 50 day moving average price of $286.47 and a two-hundred day moving average price of $291.78. 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 (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.23 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.Public Storage's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, sell-side analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

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

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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