Capital Management Associates Inc Purchases 1,761 Shares of Public Storage $PSA

Capital Management Associates Inc grew its position in Public Storage (NYSE:PSA) by 29.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,679 shares of the real estate investment trust’s stock after acquiring an additional 1,761 shares during the period. Public Storage accounts for 0.7% of Capital Management Associates Inc’s portfolio, making the stock its 22nd largest holding. Capital Management Associates Inc’s holdings in Public Storage were worth $2,253,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Public Storage by 12.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust’s stock valued at $13,240,000 after acquiring an additional 4,746 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Public Storage by 9.7% in the first quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust’s stock valued at $517,000 after acquiring an additional 152 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Public Storage by 1.2% in the first quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust’s stock valued at $92,960,000 after acquiring an additional 3,627 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Public Storage by 228.1% in the first quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust’s stock valued at $640,000 after acquiring an additional 1,487 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its stake in shares of Public Storage by 43.3% in the first quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust’s stock valued at $1,083,000 after acquiring an additional 1,093 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PSA. Scotiabank dropped their price objective on shares of 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 cut shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. UBS Group dropped their price objective 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. BNP Paribas upgraded shares of Public Storage to a “strong-buy” rating in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company dropped their price objective on shares of Public Storage from $330.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $322.92.

Public Storage Stock Performance

Shares of Public Storage stock opened at $293.39 on Thursday. The firm has a fifty day moving average of $286.88 and a two-hundred day moving average of $291.46. The stock has a market capitalization of $51.48 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 4.87 and a beta of 0.89. Public Storage has a 52 week low of $256.60 and a 52 week high of $355.87. 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 (NYSE:PSA) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, equities research analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $3.00 per share. The ex-dividend date was Monday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. Public Storage’s payout ratio 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.