Regatta Capital Group LLC Boosts Stock Holdings in Public Storage $PSA

Key Points

• Regatta Capital Group LLC increased its holdings in Public Storage (NYSE:PSA) by 77.0%, owning 6,308 shares worth approximately $1.85 million after acquiring an additional 2,744 shares in Q2.
• Public Storage reported a $4.28 EPS for Q2, exceeding estimates, with revenue hitting $1.20 billion, representing a 2.4% increase compared to the prior year.
• The firm declared a quarterly dividend of $3.00 per share, resulting in an annualized yield of 4.3%, with a payout ratio currently at 130.86%.

Regatta Capital Group LLC raised its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 77.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,308 shares of the real estate investment trust's stock after purchasing an additional 2,744 shares during the period. Regatta Capital Group LLC's holdings in Public Storage were worth $1,851,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PSA. Wealth Enhancement Advisory Services LLC grew its position in shares of Public Storage by 12.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust's stock worth $13,240,000 after buying an additional 4,746 shares during the last quarter. Brighton Jones LLC grew its position in shares of Public Storage by 9.7% in the 1st quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust's stock worth $517,000 after buying an additional 152 shares during the last quarter. Asset Management One Co. Ltd. grew its position in shares of Public Storage by 1.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust's stock worth $92,960,000 after buying an additional 3,627 shares during the last quarter. Private Trust Co. NA grew its position in shares of Public Storage by 228.1% in the 1st quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust's stock worth $640,000 after buying an additional 1,487 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its position in shares of Public Storage by 43.3% in the 1st quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust's stock worth $1,083,000 after buying an additional 1,093 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of NYSE PSA opened at $280.70 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. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a 50 day simple moving average of $286.49 and a two-hundred day simple moving average of $292.16. The stock has a market cap of $49.25 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 4.69 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the business posted $4.23 EPS. The business's quarterly revenue 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. As a group, analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, September 15th. Public Storage's payout ratio is presently 130.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSA. BMO Capital Markets downgraded shares of Public Storage from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. JPMorgan Chase & Co. cut their price objective on shares of Public Storage from $324.00 to $321.00 and set an "overweight" rating on the stock in a research report on Friday, September 12th. Wall Street Zen cut shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. UBS Group lowered their target price on shares of Public Storage from $305.00 to $295.00 and set a "neutral" rating for the company in a research note on Tuesday, September 16th. Finally, Royal Bank Of Canada lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $322.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.