Ellevest Inc. Sells 208 Shares of Public Storage $PSA

Ellevest Inc. reduced its stake in Public Storage (NYSE:PSA) by 18.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 931 shares of the real estate investment trust’s stock after selling 208 shares during the period. Ellevest Inc.’s holdings in Public Storage were worth $273,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Marshall & Sullivan Inc. WA bought a new stake in shares of Public Storage during the 2nd quarter worth about $25,000. Harbor Asset Planning Inc. bought a new position in Public Storage in the 2nd quarter valued at about $25,000. Spectrum Wealth Counsel LLC acquired a new stake in Public Storage during the first quarter worth approximately $30,000. NewSquare Capital LLC boosted 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 worth $31,000 after acquiring an additional 40 shares during the period. Finally, Winch Advisory Services LLC grew its position in shares of Public Storage by 39.8% in the first quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Performance

NYSE:PSA opened at $273.77 on Friday. The stock has a fifty day moving average price of $291.53 and a 200-day moving average price of $292.60. The company has a market cap of $48.03 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 4.72 and a beta of 0.91. 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 has a fifty-two week low of $256.60 and a fifty-two week high of $355.87.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.Public Storage’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, equities analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a $3.00 dividend. The ex-dividend date is Monday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.4%. Public Storage’s payout ratio is presently 124.61%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PSA shares. Royal Bank Of Canada dropped their price target on Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a report on Friday, October 31st. Wells Fargo & Company upped their price objective on Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 27th. UBS Group dropped their target price on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.38.

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.