Columbia Asset Management Buys 203 Shares of Public Storage $PSA

Columbia Asset Management lifted its stake in shares of Public Storage (NYSE:PSA) by 4.1% during the second quarter, HoldingsChannel reports. The firm owned 5,197 shares of the real estate investment trust’s stock after acquiring an additional 203 shares during the quarter. Columbia Asset Management’s holdings in Public Storage were worth $1,525,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA bought a new stake in shares of Public Storage during the 2nd quarter worth approximately $25,000. Spectrum Wealth Counsel LLC bought a new stake in shares of Public Storage during the 1st quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Public Storage during the 1st quarter worth approximately $36,000. Wayfinding Financial LLC bought a new stake in shares of Public Storage during the 1st quarter worth approximately $41,000. Finally, Winch Advisory Services LLC raised its stake in shares of Public Storage by 39.8% during the 1st quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PSA. Evercore ISI increased their price target on Public Storage from $309.00 to $312.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Royal Bank Of Canada dropped their price target 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. BNP Paribas upgraded Public Storage to a “strong-buy” rating in a research note on Tuesday, June 24th. Scotiabank dropped their price target on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. Finally, JPMorgan Chase & Co. dropped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average price target of $322.00.

Public Storage Stock Up 0.1%

PSA stock opened at $288.76 on Wednesday. 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 $50.66 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 4.79 and a beta of 0.86. The business’s fifty day moving average price is $286.51 and its two-hundred day moving average price is $291.61. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.05. The firm had revenue of $1.20 billion for 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%.The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $3.00 per share. The ex-dividend date was Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.2%. Public Storage’s dividend payout ratio (DPR) is presently 130.86%.

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.