Sagespring Wealth Partners LLC Boosts Stock Holdings in Public Storage $PSA

Sagespring Wealth Partners LLC raised its stake in Public Storage (NYSE:PSA) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,345 shares of the real estate investment trust’s stock after acquiring an additional 72 shares during the period. Sagespring Wealth Partners LLC’s holdings in Public Storage were worth $395,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PSA. Wilmington Savings Fund Society FSB increased its holdings in shares of Public Storage by 13.2% in the second quarter. Wilmington Savings Fund Society FSB now owns 5,421 shares of the real estate investment trust’s stock worth $1,591,000 after purchasing an additional 633 shares during the last quarter. Naviter Wealth LLC boosted its stake in Public Storage by 7.9% during the second quarter. Naviter Wealth LLC now owns 12,326 shares of the real estate investment trust’s stock valued at $3,617,000 after buying an additional 902 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in Public Storage by 37.0% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,727 shares of the real estate investment trust’s stock valued at $800,000 after buying an additional 736 shares in the last quarter. NorthRock Partners LLC increased its stake in Public Storage by 42.3% in the 2nd quarter. NorthRock Partners LLC now owns 3,314 shares of the real estate investment trust’s stock worth $972,000 after acquiring an additional 985 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Public Storage by 96.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 17,371 shares of the real estate investment trust’s stock worth $5,097,000 after acquiring an additional 8,507 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 research analysts have recently commented on PSA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. Evercore ISI increased their price objective on shares of Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a research report on Friday, October 3rd. UBS Group reduced their target price on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. JPMorgan Chase & Co. decreased their target price on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. Finally, Barclays dropped their price target on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.92.

Public Storage Stock Performance

NYSE:PSA opened at $307.77 on Friday. 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 stock’s fifty day moving average is $289.77 and its 200 day moving average is $291.77. The firm has a market capitalization of $54.00 billion, a PE ratio of 33.56, a PEG 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 posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business posted $4.23 earnings per share. The business’s revenue 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. On average, sell-side analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.9%. Public Storage’s dividend payout ratio (DPR) is presently 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.