NorthCrest Asset Manangement LLC Grows Holdings in Public Storage $PSA

NorthCrest Asset Manangement LLC increased its holdings in Public Storage (NYSE:PSA) by 169.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,999 shares of the real estate investment trust’s stock after acquiring an additional 1,887 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Public Storage were worth $880,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PSA. Empowered Funds LLC increased its position in Public Storage by 13.3% in the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after buying an additional 373 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Public Storage in the second quarter worth about $929,000. Diversified Trust Co purchased a new stake in Public Storage in the 2nd quarter worth approximately $418,000. Farther Finance Advisors LLC boosted its stake in Public Storage by 3.8% during the second quarter. Farther Finance Advisors LLC now owns 2,332 shares of the real estate investment trust’s stock valued at $684,000 after buying an additional 86 shares during the period. Finally, Park Avenue Securities LLC boosted its position in shares of Public Storage by 1.3% during the 2nd quarter. Park Avenue Securities LLC now owns 3,775 shares of the real estate investment trust’s stock valued at $1,108,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

PSA has been the subject of several research reports. BMO Capital Markets cut their target price on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a research report on Monday, December 22nd. Raymond James Financial cut their target price on shares of Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 18th. Barclays set a $331.00 price target on Public Storage in a report on Tuesday, January 13th. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $301.00 target price (down previously from $316.00) on shares of Public Storage in a research note on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $313.19.

Public Storage Stock Up 1.4%

Public Storage stock opened at $289.04 on Thursday. Public Storage has a 12 month low of $256.54 and a 12 month high of $322.49. The stock has a fifty day simple moving average of $271.17 and a two-hundred day simple moving average of $282.43. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. The firm has a market cap of $50.71 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 6.97 and a beta of 1.01.

Public Storage (NYSE:PSA) last posted its 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. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.2%. Public Storage’s dividend payout ratio is currently 124.61%.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.