RD Lewis Holdings Inc. Purchases 305 Shares of Public Storage $PSA

RD Lewis Holdings Inc. grew its holdings in shares of Public Storage (NYSE:PSA) by 8.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,914 shares of the real estate investment trust’s stock after buying an additional 305 shares during the period. RD Lewis Holdings Inc.’s holdings in Public Storage were worth $1,111,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSA. Marshall & Sullivan Inc. WA purchased a new position in Public Storage during the 2nd quarter valued at about $25,000. Harbor Asset Planning Inc. bought a new position in shares of Public Storage during the second quarter valued at approximately $25,000. Spectrum Wealth Counsel LLC purchased a new position in shares of Public Storage during the first quarter valued at approximately $30,000. NewSquare Capital LLC lifted its holdings in shares of Public Storage by 60.6% during the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 40 shares during the last quarter. Finally, SouthState Corp boosted its position in shares of Public Storage by 209.4% in the 2nd quarter. SouthState Corp now owns 164 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 111 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Up 1.6%

Shares of NYSE:PSA opened at $269.77 on Friday. The stock’s 50-day simple moving average is $287.01 and its two-hundred day simple moving average is $290.83. The stock has a market capitalization of $47.33 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 4.72 and a beta of 0.91. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77.

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

Public Storage Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PSA shares. UBS Group reduced their price objective on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Royal Bank Of Canada lowered their price target on Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Scotiabank dropped their price target on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective on the stock in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and an average target price 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.