Jackson Thornton Wealth Management LLC Invests $251,000 in Public Storage $PSA

Jackson Thornton Wealth Management LLC bought a new position in shares of Public Storage (NYSE:PSA) in the 2nd quarter, HoldingsChannel reports. The fund bought 862 shares of the real estate investment trust’s stock, valued at approximately $251,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. grew its position in Public Storage by 2.1% in the 2nd quarter. Whittier Trust Co. now owns 2,881 shares of the real estate investment trust’s stock worth $845,000 after purchasing an additional 60 shares in the last quarter. Mid American Wealth Advisory Group Inc. grew its position in Public Storage by 73.3% in the 2nd quarter. Mid American Wealth Advisory Group Inc. now owns 1,549 shares of the real estate investment trust’s stock worth $455,000 after purchasing an additional 655 shares in the last quarter. Triton Financial Group Inc bought a new stake in Public Storage in the 2nd quarter worth about $577,000. Evermay Wealth Management LLC grew its position in Public Storage by 13.3% in the 2nd quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock worth $95,000 after purchasing an additional 38 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in Public Storage by 44.7% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,142 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 353 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Performance

Shares of PSA stock opened at $311.70 on Tuesday. The stock has a market capitalization of $54.69 billion, a P/E ratio of 33.99, a PEG ratio of 5.02 and a beta of 0.89. 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’s 50 day moving average is $290.41 and its 200 day moving average is $291.90. Public Storage has a 12 month low of $256.60 and a 12 month high of $355.87.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. Public Storage’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, sell-side analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

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 3.8%. Public Storage’s dividend payout ratio is currently 130.86%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PSA. Scotiabank reduced their price objective 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. Barclays reduced their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Royal Bank Of Canada reduced their target price on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a research report on Friday, August 1st. JPMorgan Chase & Co. reduced their target price on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Finally, BNP Paribas Exane started coverage on shares of Public Storage in a research report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $324.92.

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.