W.H. Cornerstone Investments Inc. Purchases 326 Shares of Public Storage $PSA

W.H. Cornerstone Investments Inc. lifted its stake in Public Storage (NYSE:PSA) by 9.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,775 shares of the real estate investment trust’s stock after buying an additional 326 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Public Storage were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Schechter Investment Advisors LLC grew its holdings in shares of Public Storage by 2.9% during the first quarter. Schechter Investment Advisors LLC now owns 1,619 shares of the real estate investment trust’s stock worth $485,000 after purchasing an additional 46 shares during the last quarter. Signaturefd LLC boosted its position in shares of Public Storage by 19.1% during the 1st quarter. Signaturefd LLC now owns 1,779 shares of the real estate investment trust’s stock worth $532,000 after purchasing an additional 285 shares in the last quarter. Wealthfront Advisers LLC raised its holdings in shares of Public Storage by 4.6% in the 1st quarter. Wealthfront Advisers LLC now owns 10,930 shares of the real estate investment trust’s stock worth $3,271,000 after acquiring an additional 481 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Public Storage by 6.5% during the first quarter. Cullen Frost Bankers Inc. now owns 31,147 shares of the real estate investment trust’s stock valued at $9,322,000 after buying an additional 1,891 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its holdings in Public Storage by 7.9% during the first quarter. Montrusco Bolton Investments Inc. now owns 715,030 shares of the real estate investment trust’s stock worth $207,191,000 after purchasing an additional 52,345 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Up 0.5%

Shares of PSA traded up $1.26 during trading hours on Thursday, hitting $276.41. The stock had a trading volume of 108,384 shares, compared to its average volume of 821,298. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87. The company’s fifty day simple moving average is $290.23 and its 200 day simple moving average is $292.13. The firm has a market cap of $48.50 billion, a P/E ratio of 28.70, a P/E/G ratio of 4.72 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.Public Storage’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.20 earnings per share. 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 fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.3%. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Scotiabank dropped their price objective on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Evercore ISI cut their price target on Public Storage from $317.00 to $315.00 and set an “in-line” rating on the stock in a research note on Monday, November 3rd. Barclays cut their price target on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Royal Bank Of Canada lowered their target price on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average target price of $325.38.

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.