Callan Family Office LLC Takes $967,000 Position in Public Storage $PSA

Callan Family Office LLC purchased a new stake in shares of Public Storage (NYSE:PSA) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 3,295 shares of the real estate investment trust’s stock, valued at approximately $967,000.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Public Storage by 0.7% during the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock valued at $6,206,046,000 after acquiring an additional 143,575 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Public Storage by 1.0% during the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock valued at $894,177,000 after acquiring an additional 30,775 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Public Storage by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust’s stock valued at $848,425,000 after acquiring an additional 34,718 shares during the last quarter. Northern Trust Corp raised its stake in shares of Public Storage by 2.8% during the first quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock valued at $762,135,000 after acquiring an additional 69,882 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Public Storage by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock valued at $638,805,000 after acquiring an additional 12,204 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PSA. Barclays lowered their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Wells Fargo & Company lowered their target price 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. BMO Capital Markets downgraded shares of Public Storage from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $340.00 to $325.00 in a research note on Friday, June 20th. 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, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $322.92.

Public Storage Trading Up 0.1%

NYSE:PSA opened at $294.19 on Monday. 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 has a market capitalization of $51.62 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 4.88 and a beta of 0.89. The firm has a fifty day simple moving average of $287.61 and a two-hundred day simple moving average of $291.48. Public Storage has a 12 month low of $256.60 and a 12 month high of $355.87.

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

Public Storage Announces Dividend

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