Stiles Financial Services Inc Purchases 241 Shares of Public Storage $PSA

Stiles Financial Services Inc lifted its position in Public Storage (NYSE:PSA) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,336 shares of the real estate investment trust’s stock after acquiring an additional 241 shares during the quarter. Public Storage makes up approximately 1.0% of Stiles Financial Services Inc’s portfolio, making the stock its 26th largest position. Stiles Financial Services Inc’s holdings in Public Storage were worth $3,032,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in PSA. Wedmont Private Capital grew its position in Public Storage by 20.9% during the first quarter. Wedmont Private Capital now owns 874 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 151 shares during the period. Miracle Mile Advisors LLC bought a new position in Public Storage during the first quarter valued at about $280,000. Park Avenue Securities LLC grew its position in Public Storage by 18.9% during the first quarter. Park Avenue Securities LLC now owns 3,725 shares of the real estate investment trust’s stock valued at $1,115,000 after buying an additional 592 shares during the period. Farther Finance Advisors LLC grew its position in Public Storage by 28.6% during the first quarter. Farther Finance Advisors LLC now owns 2,246 shares of the real estate investment trust’s stock valued at $671,000 after buying an additional 499 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Public Storage by 16.7% during the first quarter. GAMMA Investing LLC now owns 1,754 shares of the real estate investment trust’s stock valued at $525,000 after purchasing an additional 251 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PSA. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Barclays dropped their price objective on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Evercore ISI upped their price objective on shares of Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. dropped their price objective 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. Finally, BNP Paribas Exane began coverage on shares of Public Storage in a report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $322.92.

Public Storage Trading Up 0.3%

Shares of Public Storage stock opened at $294.12 on Friday. Public Storage has a 1 year low of $256.60 and a 1 year high of $355.87. The firm has a market cap of $51.60 billion, a PE ratio of 32.07, a PEG ratio of 4.86 and a beta of 0.89. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The company has a 50 day simple moving average of $287.32 and a two-hundred day simple moving average of $291.45.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping the consensus estimate of $4.23 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate 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 was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. 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.