J.W. Cole Advisors Inc. Has $927,000 Holdings in Public Storage $PSA

J.W. Cole Advisors Inc. raised its holdings in Public Storage (NYSE:PSA) by 9.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,158 shares of the real estate investment trust’s stock after buying an additional 281 shares during the period. J.W. Cole Advisors Inc.’s holdings in Public Storage were worth $927,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Public Storage during the 1st quarter worth approximately $271,196,000. Goldman Sachs Group Inc. boosted its position in Public Storage by 68.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock worth $348,670,000 after purchasing an additional 475,342 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Public Storage in the second quarter valued at $94,297,000. Vanguard Group Inc. raised its position in shares of Public Storage by 0.7% in 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 purchasing an additional 143,575 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Public Storage by 9.8% in the first quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust’s stock valued at $462,774,000 after purchasing an additional 138,486 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Up 0.2%

Shares of PSA opened at $274.71 on Friday. 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 $352.66. The firm’s 50 day moving average is $285.94 and its 200-day moving average is $289.75. The stock has a market capitalization of $48.20 billion, a PE ratio of 28.53, a P/E/G ratio of 4.72 and a beta of 0.91.

Public Storage (NYSE:PSA) last issued 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%.The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the company posted $4.20 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities research analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s dividend payout ratio is 124.61%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Raymond James Financial cut their price objective on shares of Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 18th. JPMorgan Chase & Co. decreased their target price on Public Storage from $321.00 to $316.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 19th. Wells Fargo & Company increased their target price on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, Evercore ISI dropped their price target on Public Storage from $317.00 to $315.00 and set an “in-line” rating for the company in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and an average price target of $325.21.

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.