Ellevest Inc. Sells 208 Shares of Public Storage $PSA

by · The Markets Daily

Ellevest Inc. lowered its holdings in shares of Public Storage (NYSE:PSA – Free Report) by 18.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 931 shares of the real estate investment trust’s stock after selling 208 shares during the period. Ellevest Inc.’s holdings in Public Storage were worth $273,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. OneDigital Investment Advisors LLC lifted its holdings in shares of Public Storage by 14.4% in the first quarter. OneDigital Investment Advisors LLC now owns 1,684 shares of the real estate investment trust’s stock worth $504,000 after acquiring an additional 212 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Public Storage by 7.5% during the 1st quarter. TD Private Client Wealth LLC now owns 1,898 shares of the real estate investment trust’s stock valued at $568,000 after purchasing an additional 132 shares during the last quarter. Brown Advisory Inc. increased its position in Public Storage by 6.3% during the 1st quarter. Brown Advisory Inc. now owns 8,686 shares of the real estate investment trust’s stock worth $2,600,000 after purchasing an additional 512 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in Public Storage by 3.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,313 shares of the real estate investment trust’s stock valued at $393,000 after purchasing an additional 41 shares during the last quarter. Finally, Personal CFO Solutions LLC lifted its stake in Public Storage by 6.3% in the 1st quarter. Personal CFO Solutions LLC now owns 761 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 45 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of research reports. Scotiabank decreased their target price on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. JPMorgan Chase & Co. cut their price objective on Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Evercore ISI reduced their price objective on Public Storage from $317.00 to $315.00 and set an “in-line” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a report on Monday, October 13th. Finally, Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $325.38.

View Our Latest Report on PSA

Public Storage Trading Down 1.8%

Shares of PSA stock opened at $273.77 on Friday. The stock has a market cap of $48.03 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 4.72 and a beta of 0.91. The stock has a 50-day moving average of $291.53 and a 200-day moving average of $292.60. 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 has a 1-year low of $256.60 and a 1-year high of $355.87.

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

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s dividend payout ratio is currently 124.61%.

About Public Storage

(Free Report)

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.

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