Williams & Novak LLC Purchases 377 Shares of Public Storage $PSA

Williams & Novak LLC boosted its position in Public Storage (NYSE:PSA) by 41.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,297 shares of the real estate investment trust’s stock after purchasing an additional 377 shares during the period. Williams & Novak LLC’s holdings in Public Storage were worth $380,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA bought a new position in shares of Public Storage during the 2nd quarter valued at approximately $25,000. Spectrum Wealth Counsel LLC bought a new position in shares of Public Storage during the 1st quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new position in shares of Public Storage during the 1st quarter valued at approximately $36,000. Wayfinding Financial LLC bought a new position in shares of Public Storage during the 1st quarter valued at approximately $41,000. Finally, Rossby Financial LCC bought a new position in shares of Public Storage during the 1st quarter valued at approximately $45,000. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Up 0.1%

PSA opened at $294.19 on Friday. The company has a 50 day moving average of $287.61 and a 200 day moving average of $291.49. The company has a market cap of $51.62 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 4.88 and a beta of 0.89. Public Storage has a 12 month low of $256.60 and a 12 month high of $355.87. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA) last released its quarterly earnings data 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. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm earned $4.23 EPS. Public Storage’s revenue for the quarter was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, sell-side analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The company also recently announced 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 was Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.1%. Public Storage’s dividend payout ratio is currently 130.86%.

Analyst Ratings Changes

PSA has been the subject of a number of research reports. Scotiabank reduced their target price 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. Evercore ISI increased their target price 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. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research report on Wednesday. Finally, BNP Paribas raised shares of Public Storage to a “strong-buy” rating in a report on Tuesday, June 24th. 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, Public Storage has a consensus rating of “Moderate Buy” and a consensus price target of $322.92.

About Public Storage

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.