SG Americas Securities LLC Buys 3,290 Shares of Public Storage $PSA

SG Americas Securities LLC raised its stake in Public Storage (NYSE:PSA) by 147.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,522 shares of the real estate investment trust’s stock after purchasing an additional 3,290 shares during the quarter. SG Americas Securities LLC’s holdings in Public Storage were worth $1,620,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Meridian Wealth Management LLC grew its stake in shares of Public Storage by 10.2% in the second quarter. Meridian Wealth Management LLC now owns 4,091 shares of the real estate investment trust’s stock valued at $1,200,000 after buying an additional 379 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Public Storage by 2.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 89,894 shares of the real estate investment trust’s stock valued at $26,377,000 after acquiring an additional 2,425 shares during the last quarter. W.H. Cornerstone Investments Inc. grew its position in shares of Public Storage by 9.5% in the 2nd quarter. W.H. Cornerstone Investments Inc. now owns 3,775 shares of the real estate investment trust’s stock valued at $1,108,000 after acquiring an additional 326 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in shares of Public Storage by 5.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 24,095 shares of the real estate investment trust’s stock valued at $7,070,000 after acquiring an additional 1,147 shares during the period. Finally, Beck Bode LLC acquired a new position in shares of Public Storage during the 2nd quarter worth about $5,937,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Public Storage stock opened at $265.45 on Friday. The company has a market capitalization of $46.58 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 4.72 and a beta of 0.91. 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 $355.87. The stock’s 50 day moving average is $287.47 and its 200-day moving average is $291.04.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.07. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.Public Storage’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities research analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $3.00 dividend. The ex-dividend date is Monday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.5%. Public Storage’s dividend payout ratio is 124.61%.

Wall Street Analysts Forecast Growth

PSA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research note on Monday, October 13th. UBS Group cut their price objective 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. JPMorgan Chase & Co. reduced their target price on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $325.38.

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.