Public Storage $PSA Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC boosted its holdings in Public Storage (NYSE:PSA) by 37.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,727 shares of the real estate investment trust’s stock after buying an additional 736 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Public Storage were worth $800,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PSA. Marshall & Sullivan Inc. WA acquired a new position in Public Storage in the second quarter valued at $25,000. Spectrum Wealth Counsel LLC acquired a new position in Public Storage in the first quarter valued at $30,000. Wayfinding Financial LLC acquired a new position in Public Storage in the first quarter valued at $41,000. Rossby Financial LCC acquired a new position in Public Storage in the first quarter valued at $45,000. Finally, Winch Advisory Services LLC grew its position in Public Storage by 39.8% during the first quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 43 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on PSA. JPMorgan Chase & Co. lowered their price target on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. UBS Group lowered their price target 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. Scotiabank lowered their price target on 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. Barclays lowered their price target on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Finally, BNP Paribas raised Public Storage to a “strong-buy” rating in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $324.92.

Public Storage Price Performance

Shares of NYSE PSA opened at $307.77 on Friday. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. The business has a 50-day moving average of $289.77 and a 200-day moving average of $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. 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 (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. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

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

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.