Plimoth Trust Co. LLC Sells 235 Shares of Public Storage $PSA

Plimoth Trust Co. LLC decreased its position in shares of Public Storage (NYSE:PSA) by 8.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,690 shares of the real estate investment trust’s stock after selling 235 shares during the period. Plimoth Trust Co. LLC’s holdings in Public Storage were worth $789,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on PSA shares. BNP Paribas Exane initiated coverage on Public Storage in a report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 price objective for the company. Wells Fargo & Company decreased their price target on Public Storage from $330.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. BNP Paribas upgraded Public Storage to a “strong-buy” rating in a research note on Tuesday, June 24th. Royal Bank Of Canada cut their price objective on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. Finally, UBS Group lowered their target price on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and an average price target of $322.92.

Public Storage Trading Up 1.6%

NYSE PSA opened at $293.74 on Monday. The business’s fifty day moving average is $286.68 and its 200-day moving average is $291.43. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $51.54 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 4.87 and a beta of 0.89. Public Storage has a one year low of $256.60 and a one year high of $355.87.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities research analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s dividend 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.