Inspire Investing LLC Trims Holdings in Public Storage $PSA

Inspire Investing LLC trimmed its position in Public Storage (NYSE:PSA) by 10.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,582 shares of the real estate investment trust’s stock after selling 187 shares during the quarter. Inspire Investing LLC’s holdings in Public Storage were worth $464,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Retirement Planning Co of New England Inc. raised its stake in shares of Public Storage by 1.6% in the first quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock worth $624,000 after purchasing an additional 33 shares during the last quarter. Shum Financial Group Inc. raised its stake in shares of Public Storage by 1.7% in the first quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust’s stock worth $625,000 after purchasing an additional 35 shares during the last quarter. Whitener Capital Management Inc. raised its stake in shares of Public Storage by 2.3% in the second quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock worth $472,000 after purchasing an additional 36 shares during the last quarter. Mather Group LLC. raised its stake in shares of Public Storage by 4.6% in the second quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust’s stock worth $253,000 after purchasing an additional 38 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its stake in shares of Public Storage by 1.1% in the first quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust’s stock worth $1,072,000 after purchasing an additional 39 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Up 0.1%

Shares of 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. 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 $287.61 and its two-hundred day moving average is $291.48. The firm has a market cap of $51.62 billion, a P/E ratio of 32.08, a PEG ratio of 4.88 and a beta of 0.89.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.Public Storage’s quarterly revenue was up 2.4% compared to the same quarter last year. 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. Analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company 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 4.1%. Public Storage’s payout ratio is currently 130.86%.

Analyst Ratings Changes

Several research firms recently commented on PSA. BNP Paribas Exane began coverage on Public Storage in a report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 target price on the stock. BNP Paribas raised Public Storage to a “strong-buy” rating in a report on Tuesday, June 24th. Royal Bank Of Canada dropped their target price on Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. Wells Fargo & Company dropped their target price on Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Finally, Barclays dropped their target price on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.92.

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.