Signature Estate & Investment Advisors LLC Has $238,000 Position in Public Storage $PSA

Signature Estate & Investment Advisors LLC grew its holdings in Public Storage (NYSE:PSA) by 19.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 812 shares of the real estate investment trust’s stock after acquiring an additional 135 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Public Storage were worth $238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PSA. GAMMA Investing LLC raised its stake in Public Storage by 16.7% in the 1st quarter. GAMMA Investing LLC now owns 1,754 shares of the real estate investment trust’s stock worth $525,000 after purchasing an additional 251 shares in the last quarter. Blue Trust Inc. raised its stake in Public Storage by 96.1% in the 1st quarter. Blue Trust Inc. now owns 508 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 249 shares in the last quarter. Continuum Advisory LLC raised its stake in Public Storage by 15.2% in the 1st quarter. Continuum Advisory LLC now owns 636 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 84 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Public Storage by 12.1% in 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 purchasing an additional 879 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Public Storage by 1.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust’s stock worth $92,960,000 after purchasing an additional 3,627 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PSA. JPMorgan Chase & Co. dropped their price objective on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. Wells Fargo & Company cut their price objective on shares of Public Storage from $330.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. BNP Paribas Exane initiated coverage on shares of Public Storage in a research report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 price objective for the company. Barclays cut their price objective on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Finally, Evercore ISI upped their price objective on shares of Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.92.

Public Storage Trading Down 1.1%

PSA opened at $308.39 on Wednesday. Public Storage has a twelve month low of $256.60 and a twelve month high of $355.87. The company has a 50-day simple moving average of $290.96 and a 200 day simple moving average of $292.02. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $54.11 billion, a price-to-earnings ratio of 33.63, a P/E/G ratio of 5.09 and a beta of 0.89.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business 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 EPS for the current fiscal year.

Public Storage Dividend Announcement

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

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.