Chicago Partners Investment Group LLC Has $331,000 Stock Holdings in Public Storage $PSA

Chicago Partners Investment Group LLC grew its position in Public Storage (NYSE:PSA) by 44.7% during the 2nd quarter, Holdings Channel reports. The firm owned 1,142 shares of the real estate investment trust’s stock after purchasing an additional 353 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Public Storage were worth $331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PSA. GAMMA Investing LLC lifted its position in Public Storage by 16.7% during the 1st quarter. GAMMA Investing LLC now owns 1,754 shares of the real estate investment trust’s stock worth $525,000 after buying an additional 251 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Public Storage by 12.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,131 shares of the real estate investment trust’s stock worth $2,434,000 after buying an additional 879 shares in the last quarter. Spire Wealth Management lifted its position in Public Storage by 678.1% during the 1st quarter. Spire Wealth Management now owns 3,198 shares of the real estate investment trust’s stock worth $957,000 after buying an additional 2,787 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Public Storage by 1,421.6% during the 1st quarter. Golden State Wealth Management LLC now owns 563 shares of the real estate investment trust’s stock worth $169,000 after buying an additional 526 shares in the last quarter. Finally, Pinnacle Bancorp Inc. lifted its position in Public Storage by 17.2% during the 1st quarter. Pinnacle Bancorp Inc. now owns 498 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of NYSE:PSA opened at $306.34 on Friday. The stock has a market capitalization of $53.75 billion, a P/E ratio of 33.41, a P/E/G ratio of 5.07 and a beta of 0.89. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. 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 business has a 50-day moving average price of $292.02 and a two-hundred day moving average price of $292.36.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. The company had revenue of $1.20 billion during 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%.Public Storage’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. Public Storage’s dividend payout ratio is 130.86%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PSA. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. Scotiabank reduced their price target on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Wall Street Zen cut Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Royal Bank Of Canada dropped their price objective on Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a report on Monday, October 13th. One investment 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $324.92.

About Public Storage

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.