Clear Creek Financial Management LLC Purchases Shares of 1,165 Public Storage $PSA

Clear Creek Financial Management LLC purchased a new stake in Public Storage (NYSE:PSA) during the 2nd quarter, HoldingsChannel reports. The fund purchased 1,165 shares of the real estate investment trust’s stock, valued at approximately $342,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PSA. Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Storage in the 2nd quarter valued at about $25,000. Spectrum Wealth Counsel LLC bought a new position in shares of Public Storage during the 1st quarter valued at about $30,000. Opal Wealth Advisors LLC bought a new position in shares of Public Storage during the 1st quarter valued at about $36,000. Wayfinding Financial LLC bought a new position in shares of Public Storage during the 1st quarter valued at about $41,000. Finally, Rossby Financial LCC bought a new position in shares of Public Storage during the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

PSA has been the topic of several recent research reports. Evercore ISI increased their price objective on Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a research report on Friday, October 3rd. Royal Bank Of Canada reduced their price objective on Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research report on Friday, August 1st. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. BNP Paribas Exane initiated coverage on Public Storage in a research report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $322.92.

Public Storage Price Performance

PSA opened at $294.19 on Friday. The stock’s 50 day simple moving average is $287.61 and its 200 day simple moving average is $291.49. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. Public Storage has a 1 year low of $256.60 and a 1 year high of $355.87. The firm has a market cap of $51.62 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 4.88 and a beta of 0.89.

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

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, September 15th. Public Storage’s dividend payout ratio (DPR) is currently 130.86%.

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.