Moran Wealth Management LLC Trims Stock Holdings in Public Storage $PSA

Moran Wealth Management LLC reduced its holdings in shares of Public Storage (NYSE:PSA) by 4.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,357 shares of the real estate investment trust’s stock after selling 264 shares during the period. Moran Wealth Management LLC’s holdings in Public Storage were worth $1,865,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Storage during the second quarter valued at $25,000. Spectrum Wealth Counsel LLC bought a new stake in shares of Public Storage during the first quarter valued at approximately $30,000. Wayfinding Financial LLC purchased a new stake in shares of Public Storage in the first quarter valued at approximately $41,000. Rossby Financial LCC purchased a new position in Public Storage during the 1st quarter worth $45,000. Finally, Winch Advisory Services LLC raised its position in Public Storage by 39.8% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PSA shares. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. BNP Paribas Exane began coverage on shares of Public Storage in a report on Tuesday, June 24th. They issued an “outperform” rating and a $331.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective on the stock in a research note on Monday. Finally, Barclays reduced their price objective on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $324.92.

Public Storage Stock Down 0.4%

Shares of PSA stock opened at $300.87 on Thursday. The stock’s 50-day simple moving average is $288.79 and its 200-day simple moving average is $291.66. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $52.79 billion, a PE ratio of 32.81, a P/E/G ratio of 5.01 and a beta of 0.89. 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 earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating 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 firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm earned $4.23 earnings per share. Public Storage’s revenue for the quarter was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s dividend payout ratio (DPR) is 130.86%.

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.