Beck Bode LLC Invests $5.94 Million in Public Storage $PSA

Beck Bode LLC acquired a new stake in shares of Public Storage (NYSE:PSA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 20,233 shares of the real estate investment trust’s stock, valued at approximately $5,937,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. Marshall & Sullivan Inc. WA bought a new position in shares of Public Storage in the second quarter worth approximately $25,000. Harbor Asset Planning Inc. bought a new stake in shares of Public Storage during the 2nd quarter valued at $25,000. Spectrum Wealth Counsel LLC purchased a new position in shares of Public Storage during the 1st quarter valued at $30,000. NewSquare Capital LLC boosted its holdings in Public Storage by 60.6% in the 2nd quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 40 shares during the period. Finally, Winch Advisory Services LLC boosted its holdings in Public Storage by 39.8% in the 1st quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 43 shares during the period. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PSA shares. Wells Fargo & Company raised their price target on Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Scotiabank cut their target price 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. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. 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. Finally, Evercore ISI dropped their price target on Public Storage from $317.00 to $315.00 and set an “in-line” rating for the company in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $325.38.

Public Storage Trading Up 1.9%

Shares of PSA stock opened at $277.85 on Wednesday. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The stock’s 50-day moving average price is $290.55 and its 200-day moving average price is $292.25. The stock has a market capitalization of $48.75 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91.

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

Public Storage Announces Dividend

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 dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Monday, December 15th. Public Storage’s dividend payout ratio is currently 124.61%.

Public Storage Company 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.