Werlinich Asset Management LLC Has $2.09 Million Stock Holdings in Public Storage $PSA

Werlinich Asset Management LLC raised its position in Public Storage (NYSE:PSA) by 17.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 7,105 shares of the real estate investment trust’s stock after buying an additional 1,050 shares during the quarter. Public Storage comprises about 1.1% of Werlinich Asset Management LLC’s portfolio, making the stock its 26th largest holding. Werlinich Asset Management LLC’s holdings in Public Storage were worth $2,085,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Retirement Planning Co of New England Inc. boosted its position in Public Storage by 1.6% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 33 shares during the last quarter. Shum Financial Group Inc. boosted its position in Public Storage by 1.7% during the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust’s stock worth $625,000 after acquiring an additional 35 shares during the last quarter. Meeder Advisory Services Inc. boosted its position in Public Storage by 1.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust’s stock worth $1,072,000 after acquiring an additional 39 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Public Storage by 3.1% during the 1st quarter. Meeder Asset Management Inc. now owns 1,295 shares of the real estate investment trust’s stock worth $388,000 after acquiring an additional 39 shares during the last quarter. Finally, ICW Investment Advisors LLC boosted its position in Public Storage by 1.0% during the 1st quarter. ICW Investment Advisors LLC now owns 3,901 shares of the real estate investment trust’s stock worth $1,168,000 after acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PSA. BNP Paribas raised Public Storage to a “strong-buy” rating in a research report on Tuesday, June 24th. UBS Group decreased their price target on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays decreased their price target on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Evercore ISI raised their price target on Public Storage from $309.00 to $312.00 and gave the company an “in-line” rating in a research note on Monday. Finally, Royal Bank Of Canada decreased their price target on Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average target price of $329.21.

Public Storage Stock Down 0.6%

PSA stock opened at $284.84 on Wednesday. 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 stock has a market capitalization of $49.98 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 4.76 and a beta of 0.86. The business’s fifty day moving average price is $287.16 and its two-hundred day moving average price is $293.22. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99.

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, topping the consensus estimate of $4.23 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.2%. Public Storage’s payout ratio is currently 130.86%.

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.