Flavin Financial Services Inc. Decreases Stock Holdings in Public Storage $PSA

Flavin Financial Services Inc. trimmed its holdings in Public Storage (NYSE:PSA) by 15.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,846 shares of the real estate investment trust’s stock after selling 331 shares during the quarter. Flavin Financial Services Inc.’s holdings in Public Storage were worth $542,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Public Storage by 12.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust’s stock worth $13,240,000 after purchasing an additional 4,746 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Public Storage by 1.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust’s stock valued at $92,960,000 after buying an additional 3,627 shares during the period. Private Trust Co. NA raised its position in shares of Public Storage by 228.1% during the 1st quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust’s stock valued at $640,000 after buying an additional 1,487 shares during the period. Summit Trail Advisors LLC raised its position in shares of Public Storage by 43.3% during the 1st quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust’s stock valued at $1,083,000 after buying an additional 1,093 shares during the period. Finally, TCW Group Inc. raised its position in shares of Public Storage by 5.2% during the 1st quarter. TCW Group Inc. now owns 13,696 shares of the real estate investment trust’s stock valued at $4,099,000 after buying an additional 676 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Performance

Shares of PSA stock opened at $307.77 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm has a fifty day moving average price of $289.77 and a 200 day moving average price of $291.73. The company has a market cap of $54.00 billion, a P/E ratio of 33.56, a PEG ratio of 5.02 and a beta of 0.89. Public Storage has a 12 month low of $256.60 and a 12 month high of $355.87.

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

Public Storage Dividend Announcement

The company also recently announced 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. The ex-dividend date was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. Public Storage’s payout ratio is presently 130.86%.

Analysts Set New Price Targets

PSA has been the topic of several analyst reports. Royal Bank Of Canada reduced their price target on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research report on Friday, August 1st. Scotiabank dropped 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 report on Thursday, August 28th. BNP Paribas upgraded shares of Public Storage to a “strong-buy” rating in a report on Tuesday, June 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Finally, Evercore ISI lifted their target price 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. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and a consensus price target of $324.92.

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.