Segment Wealth Management LLC Purchases 340 Shares of Public Storage $PSA

Segment Wealth Management LLC increased its position in shares of Public Storage (NYSE:PSA) by 6.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,319 shares of the real estate investment trust’s stock after acquiring an additional 340 shares during the period. Segment Wealth Management LLC’s holdings in Public Storage were worth $1,561,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA bought a new stake in shares of Public Storage in the 2nd quarter valued at about $25,000. Spectrum Wealth Counsel LLC bought a new stake in shares of Public Storage in the 1st quarter valued at about $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Public Storage in the 1st quarter valued at about $36,000. Wayfinding Financial LLC bought a new stake in shares of Public Storage in the 1st quarter valued at about $41,000. Finally, Winch Advisory Services LLC grew its position in shares of Public Storage by 39.8% in the 1st quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 43 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 1.6%

Shares of NYSE:PSA opened at $293.74 on Friday. The business’s 50-day moving average is $286.68 and its 200-day moving average is $291.49. Public Storage has a 1 year low of $256.60 and a 1 year high of $355.87. 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 market capitalization of $51.54 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 4.80 and a beta of 0.89.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the business earned $4.23 EPS. The firm’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. Equities research analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s dividend payout ratio is 130.86%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BNP Paribas upgraded Public Storage to a “strong-buy” rating in a research report on Tuesday, June 24th. Barclays reduced their price target on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Scotiabank dropped their price objective on 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. UBS Group dropped their price objective on Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Finally, JPMorgan Chase & Co. dropped their price objective on Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $322.92.

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.