Catalyst Capital Advisors LLC Cuts Holdings in Public Storage $PSA

Catalyst Capital Advisors LLC trimmed its holdings in shares of Public Storage (NYSE:PSA) by 14.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 453 shares of the real estate investment trust’s stock after selling 74 shares during the period. Catalyst Capital Advisors LLC’s holdings in Public Storage were worth $133,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PSA. Marshall & Sullivan Inc. WA purchased a new stake in Public Storage during the 2nd quarter valued at $25,000. Harbor Asset Planning Inc. bought a new position in shares of Public Storage during the 2nd quarter valued at $25,000. Spectrum Wealth Counsel LLC bought a new position in shares of Public Storage during the 1st quarter valued at $30,000. Wayfinding Financial LLC bought a new position in shares of Public Storage during the 1st quarter valued at $41,000. Finally, Rossby Financial LCC bought a new position in shares of Public Storage during the 1st quarter valued at $45,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Price Performance

Shares of Public Storage stock opened at $302.52 on Friday. Public Storage has a one year low of $256.60 and a one year high of $355.87. The stock’s fifty day moving average is $292.41 and its 200 day moving average is $292.80. The stock has a market cap of $53.08 billion, a P/E ratio of 32.99, a P/E/G ratio of 4.93 and a beta of 0.89. 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 announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $4.23 EPS. Public Storage’s revenue for the quarter was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Sell-side analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $3.00 per share. 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 4.0%. Public Storage’s dividend payout ratio (DPR) is currently 130.86%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group lowered their price target on Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. Wells Fargo & Company lowered their price target on Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Evercore ISI increased their price target on Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a report on Saturday. Finally, Royal Bank Of Canada lowered their price target on 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 investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.92.

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.