Creative Planning Purchases 2,550 Shares of Public Storage (NYSE:PSA)

Creative Planning lifted its position in Public Storage (NYSE:PSA) by 13.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,985 shares of the real estate investment trust’s stock after acquiring an additional 2,550 shares during the quarter. Creative Planning’s holdings in Public Storage were worth $8,000,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PSA. CX Institutional lifted its stake in Public Storage by 6.9% in the third quarter. CX Institutional now owns 790 shares of the real estate investment trust’s stock worth $287,000 after purchasing an additional 51 shares during the last quarter. Rise Advisors LLC lifted its stake in shares of Public Storage by 3.4% during the 3rd quarter. Rise Advisors LLC now owns 1,275 shares of the real estate investment trust’s stock worth $464,000 after acquiring an additional 42 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Public Storage during the 3rd quarter valued at $50,000. Sawyer & Company Inc grew its position in Public Storage by 4.3% in the 3rd quarter. Sawyer & Company Inc now owns 6,260 shares of the real estate investment trust’s stock valued at $2,278,000 after acquiring an additional 256 shares during the last quarter. Finally, Koshinski Asset Management Inc. increased its stake in Public Storage by 45.5% in the third quarter. Koshinski Asset Management Inc. now owns 1,318 shares of the real estate investment trust’s stock worth $480,000 after purchasing an additional 412 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of recent analyst reports. Scotiabank boosted their target price on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Royal Bank of Canada started coverage on shares of Public Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 target price on the stock. Truist Financial lowered shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a research report on Thursday, August 1st. Morgan Stanley boosted their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Barclays raised their price objective on Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $340.93.

Public Storage Price Performance

Shares of PSA stock opened at $339.77 on Thursday. The stock’s 50-day moving average is $346.82 and its 200 day moving average is $306.35. Public Storage has a 1-year low of $233.18 and a 1-year high of $369.99. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $59.71 billion, a P/E ratio of 30.86, a PEG ratio of 4.87 and a beta of 0.68.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). The firm had revenue of $921.70 million during the quarter, compared to the consensus estimate of $1.16 billion. Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.28 earnings per share. Research analysts predict that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.53%. The ex-dividend date was Friday, September 13th. Public Storage’s dividend payout ratio is presently 108.99%.

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.