Sagespring Wealth Partners LLC Buys 72 Shares of Public Storage $PSA

Sagespring Wealth Partners LLC raised its stake in shares of Public Storage (NYSE:PSA) by 5.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,345 shares of the real estate investment trust’s stock after buying an additional 72 shares during the period. Sagespring Wealth Partners LLC’s holdings in Public Storage were worth $395,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall & Sullivan Inc. WA bought a new position in Public Storage in the second quarter valued at about $25,000. Spectrum Wealth Counsel LLC bought a new stake in shares of Public Storage during the 1st quarter valued at about $30,000. Wayfinding Financial LLC purchased a new stake in shares of Public Storage during the 1st quarter valued at about $41,000. Rossby Financial LCC purchased a new stake in shares of Public Storage during the 1st quarter valued at about $45,000. Finally, Winch Advisory Services LLC lifted its stake in shares of Public Storage by 39.8% in the 1st quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 43 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Up 0.3%

Shares of PSA stock opened at $307.77 on Friday. The company has a market capitalization of $54.00 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 5.01 and a beta of 0.89. Public Storage has a one year low of $256.60 and a one year high of $355.87. The company’s fifty day moving average price is $289.77 and its 200-day moving average price is $291.77. 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 (NYSE:PSA) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm posted $4.23 EPS. Public Storage’s quarterly revenue 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. Sell-side analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

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

Analyst Ratings Changes

PSA has been the subject of several recent research reports. BMO Capital Markets lowered shares of Public Storage from an “outperform” rating to a “market perform” rating and cut their target price for the company from $340.00 to $325.00 in a research report on Friday, June 20th. Royal Bank Of Canada reduced their price objective on Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a research note on Friday, August 1st. Barclays decreased their target price on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Evercore ISI boosted their price target on Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a report on Friday, October 3rd. Finally, Wells Fargo & Company decreased their price objective on Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $324.92.

About Public Storage

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.