Harbour Investments Inc. Buys 351 Shares of Public Storage $PSA

Harbour Investments Inc. raised its stake in Public Storage (NYSE:PSA) by 18.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,210 shares of the real estate investment trust’s stock after buying an additional 351 shares during the quarter. Harbour Investments Inc.’s holdings in Public Storage were worth $649,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Public Storage by 12.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust’s stock valued at $13,240,000 after buying an additional 4,746 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Public Storage by 1.2% in the first quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust’s stock valued at $92,960,000 after buying an additional 3,627 shares in the last quarter. Private Trust Co. NA lifted its stake in Public Storage by 228.1% in the first quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust’s stock valued at $640,000 after buying an additional 1,487 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in Public Storage by 43.3% in the first quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust’s stock valued at $1,083,000 after buying an additional 1,093 shares in the last quarter. Finally, TCW Group Inc. lifted its stake in Public Storage by 5.2% in the first 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. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of PSA opened at $307.77 on Monday. The company has a market cap of $54.00 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 5.02 and a beta of 0.89. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. The company’s fifty day simple moving average is $289.77 and its 200 day simple moving average is $291.71. 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 (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 analysts’ consensus estimates of $4.23 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, research analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Barclays lowered their price objective on shares of 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 lifted their price objective on shares of Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a report on Friday, October 3rd. Wells Fargo & Company lowered their price objective on shares of Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada lowered their price objective on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $324.92.

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.