Franklin Parlapiano Turner & Welch LLC Has $7.67 Million Stock Position in Public Storage $PSA

Franklin Parlapiano Turner & Welch LLC lifted its position in shares of Public Storage (NYSE:PSA) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,129 shares of the real estate investment trust’s stock after acquiring an additional 309 shares during the quarter. Public Storage makes up about 2.0% of Franklin Parlapiano Turner & Welch LLC’s investment portfolio, making the stock its 18th largest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Public Storage were worth $7,667,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Public Storage by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock valued at $6,206,046,000 after purchasing an additional 143,575 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Public Storage by 1.0% in the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock worth $894,177,000 after purchasing an additional 30,775 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Public Storage by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust’s stock valued at $848,425,000 after buying an additional 34,718 shares during the period. Northern Trust Corp lifted its holdings in Public Storage by 2.8% in the first quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust’s stock worth $762,135,000 after buying an additional 69,882 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Public Storage by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust’s stock valued at $638,805,000 after purchasing an additional 12,204 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of NYSE PSA opened at $294.19 on Friday. The firm has a 50-day moving average of $287.61 and a two-hundred day moving average of $291.49. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The company has a market capitalization 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 has a twelve month low of $256.60 and a twelve month high of $355.87.

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

Public Storage Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSA. BMO Capital Markets cut shares of Public Storage from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $340.00 to $325.00 in a research note on Friday, June 20th. Wall Street Zen cut shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Scotiabank lowered their price target on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. Royal Bank Of Canada cut their price target on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of 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 investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and a consensus target price of $322.92.

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.