Plato Investment Management Ltd Has $1.72 Million Holdings in Public Storage (NYSE:PSA)

Plato Investment Management Ltd decreased its position in Public Storage (NYSE:PSA) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,993 shares of the real estate investment trust’s stock after selling 135 shares during the period. Plato Investment Management Ltd’s holdings in Public Storage were worth $1,724,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in Public Storage by 107.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 44 shares during the last quarter. Core Wealth Advisors Inc. acquired a new position in Public Storage during the 4th quarter worth approximately $30,000. OFI Invest Asset Management bought a new position in shares of Public Storage during the 2nd quarter worth approximately $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Public Storage in the second quarter valued at approximately $36,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Public Storage in the fourth quarter worth $37,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of PSA opened at $359.16 on Monday. The firm has a market capitalization of $63.11 billion, a PE ratio of 32.62, a PEG ratio of 5.06 and a beta of 0.67. 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’s 50-day moving average is $320.20 and its 200-day moving average is $293.11. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $361.23.

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

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $12.00 annualized dividend and a yield of 3.34%. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

Wall Street Analyst Weigh In

PSA has been the subject of a number of analyst reports. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a research report on Thursday, August 1st. Scotiabank lifted their target price on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company increased their price target on Public Storage from $310.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Royal Bank of Canada initiated coverage on Public Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 price target on the stock. Finally, Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective on the stock. in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.15.

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.