Middleton & Co. Inc. MA Has $1.60 Million Position in Public Storage (NYSE:PSA)

Middleton & Co. Inc. MA decreased its holdings in shares of Public Storage (NYSE:PSA) by 11.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,555 shares of the real estate investment trust’s stock after selling 725 shares during the quarter. Middleton & Co. Inc. MA’s holdings in Public Storage were worth $1,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in shares of Public Storage by 107.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 44 shares during the period. Core Wealth Advisors Inc. bought a new position in Public Storage in the 4th quarter valued at about $30,000. OFI Invest Asset Management acquired a new stake in Public Storage during the second quarter worth approximately $32,000. ICA Group Wealth Management LLC bought a new stake in shares of Public Storage during the fourth quarter worth approximately $37,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Public Storage in the second quarter valued at approximately $36,000. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Evercore ISI lifted their price target on Public Storage from $334.00 to $343.00 and gave the stock an “in-line” rating in a report on Monday. Citigroup lifted their target price on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Barclays upped their price target on shares of Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Royal Bank of Canada began coverage on shares of Public Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 price objective for the company. Finally, Scotiabank increased their target price on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price of $332.71.

Public Storage Stock Up 0.9 %

NYSE PSA opened at $360.72 on Thursday. The business has a fifty day moving average price of $324.49 and a two-hundred day moving average price of $294.65. The stock has a market capitalization of $63.39 billion, a PE ratio of 32.76, a PEG ratio of 5.06 and a beta of 0.67. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $366.29. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share 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 business had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company earned $4.28 earnings per share. Public Storage’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts expect that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, September 13th. Public Storage’s dividend payout ratio (DPR) 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.