Evermay Wealth Management LLC Acquires 38 Shares of Public Storage $PSA

Evermay Wealth Management LLC boosted its holdings in Public Storage (NYSE:PSA) by 13.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 324 shares of the real estate investment trust’s stock after purchasing an additional 38 shares during the quarter. Evermay Wealth Management LLC’s holdings in Public Storage were worth $95,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA bought a new position in Public Storage in the 2nd quarter worth approximately $25,000. Harbor Asset Planning Inc. bought a new position in Public Storage in the 2nd quarter worth approximately $25,000. Spectrum Wealth Counsel LLC bought a new position in Public Storage in the 1st quarter worth approximately $30,000. Wayfinding Financial LLC bought a new position in Public Storage in the 1st quarter worth approximately $41,000. Finally, Rossby Financial LCC bought a new position in Public Storage in the 1st quarter worth approximately $45,000. 78.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on PSA shares. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. UBS Group lowered their target price on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Wall Street Zen downgraded Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $324.92.

Public Storage Stock Up 1.3%

Shares of PSA opened at $311.70 on Tuesday. The company has a market cap of $54.69 billion, a PE ratio of 33.99, a P/E/G ratio of 5.02 and a beta of 0.89. The business has a fifty day moving average of $290.41 and a 200 day moving average of $291.90. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. 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) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.Public Storage’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, sell-side analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $3.00 dividend. The ex-dividend date was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.8%. Public Storage’s dividend payout ratio (DPR) 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.