True Wealth Design LLC Boosts Stake in Public Storage $PSA

True Wealth Design LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 952.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 200 shares of the real estate investment trust’s stock after acquiring an additional 181 shares during the period. True Wealth Design LLC’s holdings in Public Storage were worth $59,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. AE Wealth Management LLC lifted its stake in Public Storage by 4.7% during the second quarter. AE Wealth Management LLC now owns 1,630 shares of the real estate investment trust’s stock worth $478,000 after purchasing an additional 73 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of Public Storage by 21.2% during the 2nd quarter. Metis Global Partners LLC now owns 31,857 shares of the real estate investment trust’s stock valued at $9,347,000 after buying an additional 5,583 shares in the last quarter. KCM Investment Advisors LLC lifted its position in Public Storage by 2.9% in the 2nd quarter. KCM Investment Advisors LLC now owns 1,349 shares of the real estate investment trust’s stock worth $396,000 after buying an additional 38 shares during the last quarter. Harvest Portfolios Group Inc. lifted its position in Public Storage by 8.6% in the 2nd quarter. Harvest Portfolios Group Inc. now owns 5,676 shares of the real estate investment trust’s stock worth $1,665,000 after buying an additional 449 shares during the last quarter. Finally, Savant Capital LLC boosted its stake in Public Storage by 34.2% in the second quarter. Savant Capital LLC now owns 11,609 shares of the real estate investment trust’s stock worth $3,406,000 after buying an additional 2,956 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PSA shares. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price target for the company in a research note on Monday, October 13th. UBS Group cut their price target on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Finally, Scotiabank decreased their price objective on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $325.38.

Public Storage Trading Up 1.5%

Shares of PSA opened at $278.00 on Friday. The stock has a market capitalization of $48.78 billion, a P/E ratio of 28.87, a PEG ratio of 4.72 and a beta of 0.91. Public Storage has a twelve month low of $256.60 and a twelve month high of $355.87. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm has a fifty day simple moving average of $291.20 and a two-hundred day simple moving average of $292.51.

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

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $3.00 dividend. The ex-dividend date is Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 4.3%. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Public Storage 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.