Midwest Professional Planners LTD. Increases Stock Position in Public Storage $PSA

Midwest Professional Planners LTD. raised its holdings in Public Storage (NYSE:PSA) by 2.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,138 shares of the real estate investment trust’s stock after acquiring an additional 195 shares during the quarter. Midwest Professional Planners LTD.’s holdings in Public Storage were worth $2,094,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. TCW Group Inc. lifted its stake in Public Storage by 5.2% in the 1st quarter. TCW Group Inc. now owns 13,696 shares of the real estate investment trust’s stock valued at $4,099,000 after buying an additional 676 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Public Storage during the first quarter valued at $1,124,000. Vanguard Group Inc. increased its position in Public Storage by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock worth $6,206,046,000 after purchasing an additional 143,575 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Public Storage by 3.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 103,972 shares of the real estate investment trust’s stock valued at $31,118,000 after purchasing an additional 2,990 shares in the last quarter. Finally, Meridian Wealth Management LLC boosted its stake in shares of Public Storage by 181.2% during the 1st quarter. Meridian Wealth Management LLC now owns 3,712 shares of the real estate investment trust’s stock worth $1,111,000 after purchasing an additional 2,392 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Scotiabank decreased their target price on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Barclays reduced their target price on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. UBS Group cut their price objective on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. JPMorgan Chase & Co. dropped their price target on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $325.38.

Public Storage Stock Performance

Shares of PSA stock opened at $274.22 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. The company has a market cap of $48.12 billion, a PE ratio of 28.48, a P/E/G ratio of 4.72 and a beta of 0.91. The company’s fifty day simple moving average is $289.39 and its 200-day simple moving average is $291.81. Public Storage has a 52 week low of $256.60 and a 52 week high of $355.87.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, beating 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 company’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, equities research analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is 124.61%.

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.