Savant Capital LLC Has $3.41 Million Stake in Public Storage $PSA

Savant Capital LLC grew its stake in shares of Public Storage (NYSE:PSA) by 34.2% in the second quarter, HoldingsChannel.com reports. The fund owned 11,609 shares of the real estate investment trust’s stock after acquiring an additional 2,956 shares during the quarter. Savant Capital LLC’s holdings in Public Storage were worth $3,406,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PSA. Brown Advisory Inc. raised its holdings in shares of Public Storage by 6.3% during the 1st quarter. Brown Advisory Inc. now owns 8,686 shares of the real estate investment trust’s stock worth $2,600,000 after buying an additional 512 shares in the last quarter. Axxcess Wealth Management LLC raised its position in Public Storage by 18.2% during the 1st quarter. Axxcess Wealth Management LLC now owns 1,991 shares of the real estate investment trust’s stock worth $596,000 after purchasing an additional 307 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Public Storage by 2.6% in the first quarter. Arizona State Retirement System now owns 46,270 shares of the real estate investment trust’s stock worth $13,848,000 after acquiring an additional 1,156 shares during the period. Schechter Investment Advisors LLC lifted its position in shares of Public Storage by 2.9% in the 1st 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 period. Finally, Whitener Capital Management Inc. lifted its holdings in Public Storage by 6.0% in the first quarter. Whitener Capital Management Inc. now owns 1,574 shares of the real estate investment trust’s stock valued at $471,000 after buying an additional 89 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Public Storage stock opened at $278.00 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. The firm has a market capitalization of $48.78 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91. The firm’s 50 day simple moving average is $291.20 and its 200 day simple moving average is $292.49.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping the consensus estimate of $4.24 by $0.07. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PSA shares. Wells Fargo & Company increased their price target on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. JPMorgan Chase & Co. cut their price target on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. Barclays reduced their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Royal Bank Of Canada reduced their target price on Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a report on Friday, October 31st. Finally, UBS Group decreased their price objective 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 research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.