Lindenwold Advisors INC Increases Holdings in Public Storage $PSA

Lindenwold Advisors INC grew its holdings in shares of Public Storage (NYSE:PSA) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,238 shares of the real estate investment trust’s stock after buying an additional 45 shares during the quarter. Lindenwold Advisors INC’s holdings in Public Storage were worth $1,244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSA. Marshall & Sullivan Inc. WA bought a new position in shares of Public Storage during the second quarter valued at approximately $25,000. Spectrum Wealth Counsel LLC bought a new position in shares of Public Storage during the first quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new position in shares of Public Storage during the first quarter valued at approximately $36,000. Wayfinding Financial LLC bought a new position in shares of Public Storage during the first quarter valued at approximately $41,000. Finally, Rossby Financial LCC bought a new position in shares of Public Storage during the first quarter valued at approximately $45,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

NYSE PSA opened at $294.19 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The firm’s 50 day moving average price is $287.61 and its 200-day moving average price is $291.49. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. The company has a market cap of $51.62 billion, a PE ratio of 32.08, a P/E/G ratio of 4.88 and a beta of 0.89.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm earned $4.23 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Sell-side analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $3.00 per share. The ex-dividend date was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.1%. Public Storage’s dividend payout ratio (DPR) is currently 130.86%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. 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 research note on Wednesday, July 23rd. Barclays cut their target price on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. UBS Group dropped their target price on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of 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 assigned a Buy rating, six have assigned 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 a consensus 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.